Shares Of Gas Authority Of India Added 4 Percent As Investors Cheered - Dollar Advisory & Financial Services

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Friday 25 May 2018

Shares Of Gas Authority Of India Added 4 Percent As Investors Cheered

Shares of Gas Authority of India added 4 percent as investors cheered a four-fold jump in its profits for the March quarter.

The state gas utility major reported a net profit of Rs 1,021, up 293 percent from Rs 260 crore in the same period of last fiscal.

The profit in fourth quarter was higher due to a one-off impairment GAIL had taken on its investment in Dabhol LNG terminal in the corresponding quarter of previous fiscal.

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