GAIL (India) dropped 3.44% to Rs 377.70 at 9:25 IST on BSE after net profit dropped 68.74% to Rs 260.16 crore on 15.86% rise in total income to Rs 13674.09 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 22 May 2017.Meanwhile, the S&P Sensex was down 9.32 points or 0.03% at 30,561.65.
On the BSE, 39,592 shares were traded on the counter so far as against the average daily volumes of 3.75 lakh shares in the past one quarter. The stock had hit a high of Rs 381 and a low of Rs 375.65 so far during the day.
GAIL (India) said that the fall in bottomline was due to accounting of impairment of investments in Ratnagiri Gas and Power (RGPPL) of Rs 783 crore in Q4 March 2017. The net profit without the impact of impairment rose 25% to Rs 1043 crore in Q4 March 2017 over in Q4 March 2016.
Gail (India) said that the board of directors recommended the payment of final dividend of Rs 2.7 per share for the year ended 31 March 2017.
GAIL (India), India's largest natural gas company, is one of the seven Maharatna Public Sector Undertakings (PSUs). Government of India held 54.44% stake in the firm as per the shareholding pattern as on 31 March 2017.
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