GAIL India , the largest gas transmission and marketing company in India, disappointed street with the first quarter net profit falling 23 percent year-on-year to Rs 621 crore dented by weak operational performance but supported by other income. Profit in the year-ago period was Rs 808 crore.
Net sales increased 3.7 percent to Rs 13,337 crore in the quarter ended June 2014 from Rs 12,855.6 crore in same quarter last year on account of fall in natural gas transmission services and petrochemicals businesses.
The stock was down 4.34 percent to close at Rs 390.15 amid large volumes on the Bombay Stock Exchange.
Net sales increased 3.7 percent to Rs 13,337 crore in the quarter ended June 2014 from Rs 12,855.6 crore in same quarter last year on account of fall in natural gas transmission services and petrochemicals businesses.
The stock was down 4.34 percent to close at Rs 390.15 amid large volumes on the Bombay Stock Exchange.
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