India’s GAIL posts slight drop in operating profits

31 January 2008 15:34  [Source: ICIS news]

MUMBAI (ICIS news)--GAIL (India) Limited posted a marginal 0.8% year-on-year drop in operating profits to rupees (Rs) 10.57bn ($269.02m) in its 2007 third quarter, the company said on Thursday.

For the quarter, the company’s net sales were down 1.8% to Rs42.98bn and its net profits fell 6.6% to Rs6.2bn, compared with the same period a year ago, it added.

Quarter over quarter, the company’s operating profits were marginally down 0.17% and its net sales fell 5.09%. For the period, however, the company’s net profits were up 8.51%, the gas transmission and marketing company said.

Shares of the company were down 2.29% to close at Rs416.20 on the Bombay Stock Exchange.

($1 = Rs39.29)

By: Isha Jha
+65 6780 4359

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