GAIL India net profit drops 64 per cent at Rs 604.08 crore

Sarkaritel
By Sarkaritel February 7, 2015 10:33

GAIL India net profit drops 64 per cent at Rs 604.08 crore


New Delhi, February 6, 2015. GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 14,934 crores in the third quarter of Financial Year 2014-15 as against Rs.15,980 crores in the corresponding period of the last financial year. GAIL’s Net Profit for the third quarter of the FY 2014-15 stood at Rs 604 crores as against Rs. 1,679 crores in the corresponding period of the previous year. The Gross Margin was Rs. 1,126 crores in the third quarter of the current financial year as against Rs. 2,498 crores in the corresponding period last year while the Profit Before Tax was Rs. 853 crores in the third quarter as against Rs. 2,451 crores in the corresponding period last year.

The profit during the quarter was impacted mainly due to the subsidy burden of Rs. 500 crores pertaining to the second quarter of FY 2014-15 accounted for in the third quarter, lower off take of long-term contracted RLNG by power and fertilizer plants, reduction in domestic gas availability by over 5 MMSCMD and higher feedstock cost for petrochemicals.

Sarkaritel
By Sarkaritel February 7, 2015 10:33