GAIL net down 59 per cent

State-owned gas utility GAIL India Ltd said its net profit declined 59.22 pc to Rs.2.53 billion (Rs.253 crore/$51.5 million) in the quarter ended Dec 31 from Rs.6.21 billion a year ago.

State-owned gas utility GAIL India Ltd on Wednesday said its net profit declined 59.22 per cent to Rs.2.53 billion (Rs.253 crore/$51.5 million) in the quarter ended Dec 31 from Rs.6.21 billion a year ago.

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However, the company's total Income rose to Rs.60.46 billion during the period under review from Rs.44.83 billion in the corresponding quarter last year.

GAIL also said employee cost-to-company increased following a pay revision.