Higher volume was offset by lower realization, revenue below expectation GAIL India's (GAIL) Q1FY17 result was a mixed bag where revenue was below expectation while EBITDA and PAT were above expectation on the back of higher than expected profit from petchem division. GAIL's revenue declined 14.7% YoY to Rs107 bn owing to lower gas, petchem and LPG prices. However, gas transmission/trading/petchm sales volume increased...