ALSO READRestrictions lifted on FIIs to buy shares in Indraprastha Gas Board of Indraprastha Gas approves increase in FIIs/ FPIs shareholding limits Indraprastha Gas rises after hiking foreign investment limit Indraprastha Gas standalone net profit rises 22.93% in the March 2017 quarter Board of Indraprastha Gas recommends final dividend
Indraprastha Gas Ltd, the sole supplier of CNG to automobiles and piped cooking gas to households in the national capital, today reported a 9 per cent rise in June quarter net profit on higher sales volume. Net profit in April-June at Rs 161 crore was 9 per cent higher than Rs 147.72 crore in the same period of the last fiscal, the company said in a statement here. The company's board also approved splitting existing Rs 10 share into five shares of Rs 2 each. "IGL registered an overall sales volume growth of 13 per cent over the corresponding quarter in the last fiscal, with the average daily sale going up from 4.34 million standard cuic meters per day to 4.90 mmscmd," the statement said. CNG recorded sales volume growth of 11 per cent, while piped cooking gas recorded sales volume growth of 18 per cent in the first quarter. Total gross sales value moved to Rs 1,157 crore as compared to Rs 995 crore during the first quarter of FY2016- 17, thereby showing a growth of 16 per cent. IGL sells CNG to 9.75 lakh vehicles in the national capital region through a network of 425 stations and is also supplying piped cooking gas to nearly 7.8 lakh households.
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