Business
The stock was the top loser among the 30-Sensex constituents.
Updated : Mar 19, 2018, 06:14 AM IST
Shares of state-owned gas utility GAIL India Ltd today fell by nearly 7% after the company posted a massive 64% drop in December quarter net profit.
GAIL India's scrip tumbled 6.58% to Rs 392.30 at the BSE.
The stock was the top loser among the 30-Sensex constituents.
On the NSE, it was down 6.79% to Rs 391.
GAIL India Ltd had on Friday posted a massive 64% drop in its December quarter net profit as it could not sell imported gas contracted at higher price.
Net profit in October-December at Rs 604.08 crore was 64 per cent lower compared to Rs 1,679.4 crore in the same period a year ago, the company had said in a statement.
The profit was impacted by "lower off take of long-term contracted LNG by power and fertiliser plants," it had said.