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REUTERS - State-run gas utility GAIL (India) Ltd posted a 69 percent fall in fourth-quarter profit on account of impairment charge on an investment.
Net profit fell to 2.60 billion rupees ($40.29 million) in the quarter ended March 31, from 8.32 billion rupees in the year-ago period, GAIL said on Monday. (bit.ly/2qLNrgP)
The gas marketing company said it took a charge of 7.88 billion rupees in the quarter.
($1 = 64.5400 rupees)
Reporting by Tanvi Mehta in Bengaluru; Editing by Sherry Jacob-Phillips