GAIL India Q1 Results: Standalone net dives 51.5% YoY to Rs 1,412 crore as natural gas marketing drags
State-owned GAIL (India) Ltd on Monday reported a 51.5 per cent drop in June quarter net profit on weak earnings in the petrochemicals business as well as in the marketing of natural gas. Standalone net profit of Rs 1,412 crore, or Rs 2.15 per share, in April-June (first quarter of current 2023-24 fiscal year) compared with Rs 2,915.19 crore, or Rs 4.38 a share, in the same period a year back, according to a company statement and stock exchange filing.
Margin decline led to the firm booking a pre-tax loss of Rs 301 crore in the petrochemical business while earnings from natural gas marketing halved to Rs 1,013.63 crore.
