GAIL (India) Ltd, the country’s largest gas distributor, reported a 77.5 per cent slump in its quarterly profit on Thursday, dented by weakness in its petrochemicals segment.
The company’s standalone profit after tax slumped to Rs 6.04 billion ($73.86 million) in the quarter ended March 31, from Rs 26.83 billion a year earlier.
The state-owned gas company’s revenue from operations rose about 22 per cent to Rs 328.58 billion. Still, its petrochemicals segment saw a 46 per cent drop in sales.
