You are using an older browser version. Please use a supported version for the best MSN experience.

Gail shares fall nearly 3% after Q4 results

LiveMint logoLiveMint 23-05-2017 PTI

New Delhi: Shares of gas utility GAIL India Ltd on Tuesday fell by nearly 3% after the company reported 69% drop in the net profit of fourth quarter.

The scrip declined by 2.74% to end at Rs 380.45 on BSE. During the day, it lost 6.6% to Rs 365.30.

On NSE, it dipped 2.52% to close at Rs 380.35. On the volume front, 5.51 lakh shares of the company were traded on BSE and over 99 lakh shares were traded on NSE during the day. GAIL India Ltd yesterday reported 69% drop in fourth quarter net profit as it wrote down the value of its investment in Dabhol power plant.

Net profit for the January-March quarter of the last fiscal was Rs 260.16 crore, or Rs 1.54 per share, as against Rs 832.13 crore, or Rs 4.92 a share, net earnings in the same period a year before.

“We took an impairment of investment in Ratnagari Gas and Power Pvt Ltd (the company that runs Dabhol power plant) for Rs 783 crore,” GAIL chairman and managing director B C Tripathi said.

Turnover was up 16% at Rs 13,644 crore.

More From LiveMint

image beaconimage beaconimage beacon