GAIL Q2 net slips 35%

New Delhi: State-run GAIL India Ltd on Friday reported a 35 per cent drop in September quarter net profit as margins on natural gas marketing slumped and petrochemical business slipped into a loss.

Consolidated net profit of Rs 1,167.58 crore, or Rs 2.59 per share, in July-September compared with Rs 1,788.98 crore, or Rs 3.96 per share, profit after tax in the year-ago period, the company said in a regulatory filing.

While pre-tax profit from natural gas transmission business fell 10 per cent to Rs 803 crore, petrochemical business logged a Rs 82.32 crore loss. Natural gas marketing business saw pre-tax profit drop by 70 per cent to Rs 241.72 crore.

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