Gail Q2 Net dips 30% to Rs713.23 cr

Gail Q2 Net dips 30% to Rs713.23 cr

New Delhi: State-run gas utility Gail India on Wednesday reported 30.31% fall in net profit at Rs713.23 crore for the second quarter ended 30 September, 2009.

“The firm had a net profit of Rs1,023.45 crore in the September quarter of last fiscal," Gail said in a filing to the Bombay Stock Exchange (BSE).

Total income, however, rose to Rs6,371.10 crore during the July-September quarter of the current fiscal, from Rs6,358.20 crore in the corresponding period a year ago.

For the half year ended 30 September, Gail posted a net profit of Rs1,369.07 crore, a 28.71% dip over the year-ago period.

The company’s income from operations at the end of six month period stood at 12,223.60 crore, while it was at 11,859.99 crore in the same period last fiscal.

Shares of Gail were trading at Rs339.20, down 0.88% in the late afternoon trade on the BSE.