Joining the chorus of the private sector player Reliance Industries Limited (RIL), GAIL (India) on Monday opposed the attempts by the Petroleum and Natural Gas Ministry to regulate marketing margin charged on the sale of imported LNG.
Talking to journalists after announcing the third quarter results, Chairman and Managing Director B. C. Tripathi said: “The government rightly has the right to regulate marketing margins on all domestically produced gas.
We have no issues with that. But there should not be any regulation on a commodity imported from international market and market rates.” GAIL reported a 13 per cent rise in net profit for the third quarter ended December 31, 2011. The net profit stood at Rs.1,091 crore which was 13 per cent higher than Rs.968 crore recorded a year ago.
Talking to journalists after announcing the third quarter results, Chairman and Managing Director B. C. Tripathi said: “The government rightly has the right to regulate marketing margins on all domestically produced gas.
We have no issues with that. But there should not be any regulation on a commodity imported from international market and market rates.” GAIL reported a 13 per cent rise in net profit for the third quarter ended December 31, 2011. The net profit stood at Rs.1,091 crore which was 13 per cent higher than Rs.968 crore recorded a year ago.
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