(Reuters) - State-owned gas utility GAIL (India) Ltd’s fourth-quarter profit surged nearly four-fold, but missed analysts’ expectations.
Profit rose to 10.21 billion rupees ($149.41 million) in the three months ended March 31, from 2.60 billion rupees a year earlier, the company said on Thursday. reut.rs/2IGYH8f
That compared with an average estimate of 13.55 billion rupees in profit drawn from 18 analysts, Thomson Reuters data showed.
Revenue from operations rose 12.8 percent to 154.31 billion rupees.
($1 = 68.3350 Indian rupees)
Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Subhranshu Sahu