By Debarati Roy/Bloomberg
Mumbai: GAIL (India) Ltd., the country’s biggest natural gas distributor, said fourth-quarter profit surged 66%.
Net income rose to Rs6.81 billion ($162 million) in the quarter ended 31 March, from Rs4.1 billion, the New Delhi-based company said on 8 May. Sales rose 6.7% to Rs39.96 billion.
The company’s shares fell 4.4% to Rs293.2 on the BSE. ombay Stock Exchange. The earnings were announced after trading ended at 3:30 p.m. local time.