Cheaper natural gas pushes IGL’s Q3 consolidated net up 28% to Rs 382 cr

Indraprastha Gas Limited (IGL) has reported a Rs 381.83 crore consolidated net profit during the third quarter of financial year 2020-2021. This is 28.40 per cent higher than the consolidated net profit reported by the company in the same quarter of FY 2019-2020. The higher profit is on the back of lower natural gas purchase costs that form a large chunk of the company’s expenses.

IGL spent Rs 606.29 crore for purchases of stock-in-trade of natural gas during the period under review. This is 36 per cent lower than the Rs 940.69 crore it had spent in the same period a year ago. This pulled down total expenses by 22 per cent to Rs 1,172.46 crore in Q3 FY 2020-2021 from Rs 1,511.73 crore in the comparable quarter of FY20.