Epic Update : GAIL

GAIL meets two parameters related to turnover and net worth however, its net profit falls short of the eligibility criteria of Rs 5,000 crore on an average annual basis in the last three fiscals. This is because GAIL along with state-owned explorer ONGC and Oil India sold LPG and crude oil to refineries at a discount to partly compensate them for selling diesel and cooking fuel below cost.

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