Business Standard reported that GAIL India Ltd 10% drop in its Q2 net profit after a steep rise in its LPG subsidy outgo.

It net profit dropped to INR 985 crore in July to September compared to INR 1,094 crore a year earlier.

Mr BC Tripathi CMD of GAIL India Ltd said that "Our profit is down primarily because of a 39 per cent rise in outgo to LPG subsidy," adding that the company paid INR 786 crore to subsidize cooking gas as compared to INR 567 crore a year ago.

Source - Business Standard

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