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Business EconomyPosted at: May 28 2015 2:27PM


Gail's profits slump

New Delhi, May 28 (UNI) Public Sector gas major Gas Authority of India Limited's (GAIL) profit in the January-March period fell to Rs 510.75 crores compared to Rs 972.03 crores during the same period last year. Brokerage firm Nomura said GAIL's Q4 was the weakest in six years. It however said while near-term environment remains challenging, the worst is over for GAIL. "The Oil and Gas sector was passing through an unprecedented situation and the gas situation in the country has reflection on our financial accounts," GAIL Chairman and Managing Director BC Tripathi said yesterday.. GAIL's net profit for the fiscal year 2014-15 stood at Rs 3,039 crores compared to Rs 4,375 crores in the previous financial year. UNI GS CH 1426
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