IGL's profits dip 10.6 percent in April-June

The Indraprastha Gas Limited (IGL) reported Rs.101.84 crore profit for April-June, a decline of 10.6 percent (Rs.12.19 crore) for the same period last year, the company notified in a regulatory filing on Wednesday.

According to the unaudited financial results for the quarter ending June 30, 2015, the natural gas supply company IGL's profits dipped by Rs.12.19 crore from the same period a year ago (2014-15) when the profit was recorded Rs.114.03 crore.

However, a total income from operations grew to Rs.901.76 crore in the quarter under review from Rs.868.73 crore in the last quarter, a rise of Rs.33.03 crore at the rate of 3.8 percent.

Total expenses also grew to Rs.744.23 crore in the first quarter of the current fiscal compared to Rs.697.21 crore of the year ago quarter. Total expenses rose by Rs.47.02 crore.

Incorporated in 1998, the IGL is promoted by public sector giants Gas Authority of India Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL).

The IGL supplies natural gas to domestic and commercial sectors in the National Capital Region (NCR).