Gail India Q4 Results: Profit slumps 77% as petrochemicals drag, expenses jump
Gail, India’s largest gas distributor, reported a 77.5% slump in its quarterly profit on Thursday, dented by weakness in its petrochemicals segment. The company’s standalone profit after tax slumped to 6.04 billion rupees ($73.86 million) in the quarter ended March 31, from 26.83 billion rupees a year earlier. The state-owned gas company’s revenue from operations rose about 22% to 328.58 billion rupees.
