GAIL Q4 net dips 12.7%

The net profit in Q4 was lower than the Rs 722.38 crore in the same period of the previous fiscal, GAIL Chairman and Managing Director U D Choubey said.

The turnover, however, increased 24 per cent to Rs 6,104.31 crore in the January-March quarter from Rs 4,935.29 crore earlier.

For the 2008-09 fiscal, the company’s profit after tax rose 8 per cent to Rs 2,803.7 crore, from Rs 2,601.46 crore in the previous year.

“This is despite increase in GAIL’s outgo on LPG subsidies to Rs 1,781 crore as against Rs 1,314 crore in the previous year,” he said.

The gross margin during 2008-09 increased by 8 per cent to Rs 4,851 crore from Rs 4,506 crore.

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