 "GAIL India dips on disappointing Q1 results")
GAIL (India) has dipped nearly 5% to Rs 389, falling 7% from intra-day high on BSE, after reporting a 23% year on year (yoy) decline in net profit at Rs 621 crore for the quarter ended June 30, 2014 (Q1), due to lower operational income. The state-owned company had profit of Rs 808 crore in the same quarter last fiscal.
Total operational revenues grew 3.4% at Rs 13,372 crore on yoy basis.
Analysts on an average had expected profit of Rs 948 crore on revenues of Rs 14,794 crore.
Revenue of Rs 242 crore has been deorganized during the quarter review in view of revision of Natural Gas Pipeline Tariff by PNGRB, GAIL (India) said in a statement.
The stock opened at Rs 417 and has seen a combined 3.17 million shares changed hands on the counter so far on BSE and NSE.
Total operational revenues grew 3.4% at Rs 13,372 crore on yoy basis.
Analysts on an average had expected profit of Rs 948 crore on revenues of Rs 14,794 crore.
Revenue of Rs 242 crore has been deorganized during the quarter review in view of revision of Natural Gas Pipeline Tariff by PNGRB, GAIL (India) said in a statement.
The stock opened at Rs 417 and has seen a combined 3.17 million shares changed hands on the counter so far on BSE and NSE.