Gail shares declines nearly 3% after Q4 results

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New Delhi: On Tuesday, Shares of gas utility GAIL India Ltd on Tuesday fell by almost 3% after the organization announced 69% drp in the net benefit of final quarter.

The scrip declined by 2.74% to end at Rs 380.45 on BSE. Amid the day, it lost 6.6% to Rs 365.30.

On NSE, it plunged 2.52% to close at Rs 380.35. On the volume front, 5.51 lakh offers of the organization were traded on BSE and more than 99 lakh offers were traded on NSE amid the day. GAIL India Ltd yesterday detailed 69% drop in final quarter net benefit as it recorded the estimation of its interest in Dabhol control plant.

Net benefit for the January-March quarter of the last fiscal was Rs 260.16 crore, or Rs 1.54 for each offer, as against Rs 832.13 crore, or Rs 4.92 an offer, net income in a similar period a year prior.

“We took a hindrance of interest in Ratnagari Gas and Power Pvt Ltd (the organization that runs Dabhol control plant) for Rs 783 crore,” GAIL administrator and overseeing executive B C Tripathi said.

Turnover was up 16% at Rs 13,644 crore.

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