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Gail (India) has weakened by 2% at Rs 379 on the NSE after the company reported a lower-than-expected net profit at Rs 511 crore for the quarter ended March 31, 2015 (Q4) due to poor performance from the petrochemicals business. The government-owned company had posted a profit of Rs 972 crore in the corresponding quarter last year.
Total Income from operations too decreased from Rs 14,567 crore for the quarter ended March 31, 2014 to Rs 14,271 crore for the quarter ended March 31, 2015.
Analysts on an average had expected profit of Rs 608 crore on revenues of Rs 14,427 crore.
The company’s petrochemicals business reported loss before interest and tax of Rs 154 crore against profit of Rs 196 crore in the previous year quarter.
Meanwhile, the board has recommended a final dividend at the rate of 30% or Rs 3 per share on the paid-up equity share capital of the company for the FY 2014-15.
The stock opened at Rs 387 and touched a low of Rs 370 on the NSE. A combined 2.85 million shares changed hands on the counter on the NSE and BSE till 1528 hours.
Total Income from operations too decreased from Rs 14,567 crore for the quarter ended March 31, 2014 to Rs 14,271 crore for the quarter ended March 31, 2015.
Analysts on an average had expected profit of Rs 608 crore on revenues of Rs 14,427 crore.
The company’s petrochemicals business reported loss before interest and tax of Rs 154 crore against profit of Rs 196 crore in the previous year quarter.
Meanwhile, the board has recommended a final dividend at the rate of 30% or Rs 3 per share on the paid-up equity share capital of the company for the FY 2014-15.
The stock opened at Rs 387 and touched a low of Rs 370 on the NSE. A combined 2.85 million shares changed hands on the counter on the NSE and BSE till 1528 hours.
