IGL net profit up 9 pc in April-June

Indraprastha Gas Ltd, the firm that retails CNG in national capital and adjoining cities, today reported a 9 per cent rise in its first quarter net profit at Rs 175.89 crore.

The company had a net profit of Rs 161.26 crore in April-June 2017.

In a regulatory filing, IGL said CNG sales were up 21 per cent at Rs 1,076 crore while revenue from piped natural gas supplied rose 34 per cent to Rs 342 crore.

In volume terms, CNG sales were up 10 per cent to 248 million kgs.

"The profit after tax (PAT) is higher in the current quarter in view of higher sales volume and higher other income over first quarter of 2017-18," it said.

Other income was up 46 per cent at Rs 26.24 crore.

Total gross sales by value during April-June showed a 24 per cent rise to Rs 1,418 crore. "The increase in turnover is due to the increase in total sales quantity by 13 per cent and increase in average sales price of CNG and PNG segment by 10 per cent," it said.