Gail Q4 profit dips 69% at Rs 260 crore

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State-run Gail (India) Ltd said its net profit fell 69% in the fiscal fourth quarter on account of an impairment charge on an investment.

Net profit fell to Rs260 crore in the quarter to March from Rs832 crore a year ago, the firm said in a statement to BSE on Monday.

Gail took an impairment charge of Rs788 crore on an investment in the quarter, according to the note.

Net income rose 16% to Rs13,674 crore from Rs11,802.40 crore in the fourth quarter of last fiscal, as revenue from petrochemicals rose by 57% to Rs1,766 crore and natural gas marketing by 12.7% to Rs10,370.56 crore.