Gail Q2 Net dips 30% to Rs 713.23 cr

Gail India reported 30.31% fall in net profit at Rs 713.23 crore for the second quarter.

State-run gas utility Gail India on Wednesday reported 30.31 per cent fall in net profit at Rs 713.23 crore for the second quarter ended September 30,2009.

The firm had a net profit of Rs 1,023.45 crore in the September quarter of last fiscal,Gail said in a filing to the Bombay Stock Exchange.

Total income,however,rose to Rs 6,371.10 crore during the July-September quarter of the current fiscal,from Rs 6,358.20 crore in the corresponding period a year ago.

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For the half year ended September 30,Gail posted a net profit of Rs 1,369.07 crore,a 28.71 per cent dip over the year-ago period.

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

Shares of Gail were trading at Rs 339.20,down 0.88 per cent in the late afternoon trade on the BSE.

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