GAIL (India) Tanks 6% Due To Weak Quarterly Result

GAIL (India) on Tuesday tanked over 6% in the morning session on BSE. It is down by 6% at Rs 367.65 per share at 09:59 hours IST.

The company on Monday reported a 69% drop in net profit to Rs 260 crores for the quarter ended March 31, 2017. It had reported a net profit of Rs 832 crores for the same quarter in the previous fiscal, as per BSE filing.

The board of directors also recommended a final dividend at 27% i.e. Rs. 2.7 per share on the paid-up equity share capital of the company for the FY 2016-17, subject to the approval of shareholders.

GAIL (India) Limited is an integrated energy company in the hydrocarbon sector. The company's segments include transmission services, which includes natural gas and liquid petroleum gas (LPG), natural gas trading, petrochemicals, LPG and other liquid hydrocarbons.

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