Subsidy burden part of Q3 loss at India's GAIL

摘要

New Delhi-Indian state-owned gas company GAIL has posted a steep 42% fall in net profit for the quarter to September 30, the second of its current fiscal year, due to a month-long disruption in gas supplies and the burden of sharing oil and gas subsidies, the company said October 30. The company's net profit for the quarter declined to Rupee 4.48 billion (100 million), compared with Rupee 7.74 billion in the corresponding period a year earlier. Net turnover for the quarter was Rupee 37.07 billion, up from the previous Rupee 36.01 billion.