GAIL net down 59 percent
By IANSTuesday, January 27, 2009
MUMBAI - State-owned gas utility GAIL India Ltd Wednesday said its net profit declined 59.22 percent to Rs.2.53 billion (Rs.253 crore/$51.5 million) in the quarter ended Dec 31 from Rs.6.21 billion a year ago.
However, the company’s total Income rose to Rs.60.46 billion during the period under review from Rs.44.83 billion in the corresponding quarter last year.
GAIL also said employee cost-to-company increased following a pay revision.
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