Mumbai, July 25 - State-run gas utility company GAIL India Saturday reported a 26.8 percent dip in its net profit at Rs.655.8 crore ($135.5 million) for the quarter ended June 30, compared to Rs.896.8 crore in the same period last fiscal.

However, the total income increased 4.3 percent to Rs.6,101.3 crore from Rs.5,845.5 crore, the company said in a regulatory statement.

Net sales rose 5 percent to Rs.6,021.4 crore during the quarter under review, against Rs.5,730.7 crore in the corresponding quarter the year before.

The company Friday said it would invest Rs.7,500 crore to develop two major pipelines in southern India.