IGL Q2 profit more than doubles on tax cut, higher sales

New Delhi: Indraprastha Gas LtdNSE 7.08 %, the city gas distributor in the national capital and adjoining cities, on Thursday reported more than doubling of its September quarter net profit on lower tax rate and rise in gas sales.

Net profit in July-September at Rs 380.72 crore was 103 per cent higher than Rs 187 crore in the corresponding quarter in the last fiscal, the company said in a statement.

The company availed the lower corporate tax rate announced by the government which resulted in a “gain of Rs 143.12 crore,” it said.