- News>
- Companies
GAIL India first-quarter profit falls, beats estimates
State-run gas utility GAIL (India) Ltd posted a 23 percent fall in first-quarter profit on Thursday, but beat analysts` expectations.
New Delhi: State-run gas utility GAIL (India) Ltd posted a 23 percent fall in first-quarter profit on Thursday, but beat analysts` expectations.
Profit came in at 10.26 billion rupees ($160.06 million) for the three months ended June 30, compared with 13.35 billion rupees a year earlier, the company said.
Analysts on average had expected GAIL to post a quarterly profit of 10.18 billion rupees, according to Thomson Reuters data.
Revenue from the company`s natural gas transmission services business rose 10 percent to 11.34 billion rupees in the quarter.