Domestic gas price for the second half of FY21 has been cut by 25 percent. Gas prices are now at the lowest level ever recorded under the new domestic gas policy.

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The gas price cut is beneficial for city gas distribution companies and CNG consumers, said Nitesh Bhandari, CFO of Gujarat Gas, in an interview with CNBC-TV18.

"We would like to pass on the cut in gas prices to consumers after taking into account the dollar fluctuations. However, it’s too early to comment on what impact the gas price hike will have if the formula is changed," said Bhandari.

On the business front, Bhandari said that the firm is looking at tie-ups for long-term gas contracts. "EBITDA per unit should be around Rs 5-5.50 for a long period."