Indraprastha Gas posts 24% rise in net profit to Rs 218 cr on higher sales
Indraprastha Gas Ltd (IGL), which retails CNG and piped cooking gas in national capital and adjoining cities, on Wednesday reported a 24 per cent rise in June quarter net profit on higher sales volumes.
Standalone net profit in April-June at Rs 218 crore was higher than Rs 176 crore net profit in the same period of previous financial year, the firm aid in a statement.
“Continuing the growth momentum, IGL registered an overall sales volume growth of 13 per cent over the corresponding quarter in the last financial year, with the average daily sale going up from 5.55 million standard cubic meters per day (mmscmd) to 6.25 mmscmd,” the company said.
Product wise, CNG recorded sales volume growth of 13 per cent, while piped natural gas (PNG) registered 12 per cent growth in the quarter as compared to corresponding quarter last year.
