GAIL (India) Ltd, the nation’s largest gas distributor, on Friday reported a 46 per cent drop in its September quarter net profit as supply disruptions from a former unit of Russian energy giant Gazprom hurt business.
Net profit stood at Rs 1,537.07 crore in the July-September quarter compared to Rs 2,862.95 crore in the same period a year back, according to a stock exchange filing of the company.
The profit for the firm that transports and sells natural gas to users like fertiliser plants and CNG retailers was sequentially down at 47.2 per cent from Rs 2,915.19 crore profit in the April-June quarter.
At an investor call, GAIL Director (Finance) RK Jain said Gazprom Marketing and Trading Singapore (GMTS),
