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Gail (India) slips as Q3 revenue slides 12%

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On a consolidated basis, Gail (India)'s net profit jumped 12.93% to Rs 2,029.51 crore in Q3 December 2019 (Q3 FY20) as against Rs 1,797.04 crore reported in Q3 December 2018 (Q3 FY19).

Revenue from operations declined 11.52% year-on-year (Y-o-Y) to Rs 17,898.16 crore in Q3 FY20. The Q3 earnings were announced during trading hours today, 10 February 2020.

Profit before tax gained 5.48% to Rs 2,816.31 crore Y-o-Y. Current tax expenses fell 5.67% to Rs 698.55 crore during the period under review.

The board has declared an interim dividend of Rs 6.40 per equity share.

GAIL (India) is an integrated energy company in the hydrocarbon sector and is engaged in gas marketing. As of 31 December 2019, the Government of India held 52.68% stake in the company.

Shares of GAIL (India) fell 1.59% to Rs 121.05 on BSE. The scrip hovered in the range of Rs 125 to Rs 120.65.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 10 2020. 14:40 IST