Mahanagar Gas, Indraprastha Gas Cut In Domestic Gas Allocation, Profitability May Be Affected

Mahanagar Gas on Tuesday said the government has slashed its domestic gas allocation by around 18% from the previous fortnight, with the cut taking effect from Wednesday. 

In a separate notification, Indraprastha Gas also informed that the government has reduced its domestic gas allocation by around 20%.

The shortfall will be met with gas sourced from new wells or through well interventions, companies said in exchange filings.

The reduction is expected to hurt the company's profitability, and it is currently working on ways to reduce the impact.