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Web Exclusive | June 2014

GAIL misses expectations, analysts cautious

Our Mumbai News Bureau  

GAIL's fourth quarter results were well below expectations due to misses in most of the key business segments. Absence of ship or pay revenues impacted transmission profits. Management indicated that this is likely to continue going forward. Transmission volumes were also lower due to lower off take by fertiliser companies.

 

Meanwhile, subsidy burden of Rs 500 crore impacted LPG earnings of GAIL, less domestic gas hurt petrochemical business and weak demand environment led to lower trading profits. Analysts remain cautious on the stock as there are many uncertainties and growth and ROE are likely to remain muted for sometime.

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