Gail Q2 subsidy bill to drop to Rs 167cr

Gail India today announced a decline in subsidy sharing to Rs 167 crore during the second quarter of 2005-06 as compared to Rs 274 crore during the second quarter in the last fiscal. 

According to a release issued by Gail India to the BSE today, 71% out of the total Rs 167 crore subsidy bill is on account of PDS kerosene.

"The subsidy burden on the company is likely to be offset by additional revenue expected from increase in petrochemical production, marketing margin on supply of RLNG and increased prices of LPG and other liquid hydrocarbons," the release added.