GAIL India shares decline post earnings

Tags: Companies
Shares of gas utility GAIL India Ltd today plunged over 7.5 per cent as the company's fourth quarter earnings came in below market estimates.

GAIL's stock ended at Rs 379.05, down 7.56 per cent on the BSE. During the day, the scrip plunged 8.69 per cent to Rs 374.40.

The stock was the top loser on both Sensex and Nifty.

At the NSE, the company's stock tanked 7.59 per cent to Rs 379.

"Results were below our and consensus estimates," said Dhaval Joshi, Research Analyst, Emkay Global Financial Services.

GAIL India had yesterday reported a 57 per cent jump in its fourth-quarter net profit on the back of better petrochemical and LPG prices and drop in subsidy outgo.

GAIL posted a net profit of Rs 972 crore in January-March quarter, up from Rs 618 crore in the same period a year ago, company Chairman and Managing Director B C Tripathi had said.

Net profit was up as the company realised Rs 96,000 per ton price for petrochemicals it produces, against Rs 82,000 a ton in the previous fiscal, he said, adding price realisation on LPG also increased by 8 per cent to Rs 56,000 a ton.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture