Indraprastha Gas sizzles after good Q4 results

Indraprastha Gas advanced 5.13% to Rs 329.95 at 15:22 IST on BSE after net profit rose 29.1% to Rs 225.50 crore on 28.5% rise in total income to Rs 1593.95 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours on Friday, 24 May 2019.

Meanwhile, the S&P BSE Sensex was up 236.55 points or 0.6% to 39,671.27

On the BSE, 3.78 lakh shares were traded in the counter so far, compared with average daily volumes of 56,000 shares in the past two weeks. The stock had hit a high of Rs 339 and a low of Rs 319.35 so far during the day.

Indraprastha Gas said that CNG sales volume increased by 15% and PNG sales volumes increased by 20% in Q4 March 2019 over Q4 March 2018. On an overall basis sales volume rose 17% during this quarter over corresponding quarter of previous year. Product wise, CNG sales rose 26% to Rs 1263 crore and PNG sales rose 33% to Rs 431 crore.

Indraprastha Gas retails CNG to automobiles and piped cooking gas to households in Delhi and adjoining cities of Ghaziabad, Noida and Greater Noida.

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