GAIL net profit falls 51% in Q1 to Rs 1.4k crore

NEW DELHI: GAIL on Monday recorded a 51% drop in its net profit in the June quarter to Rs 1,412 crore from Rs 2,915 crore a year ago on lower petrochemicals margins and reduced earnings from gas marketing. Resumption of contracted gas shipments from a former subsidiary of Russia’s Gazprom from March and lower international prices boosted transportation and marketing volumes.