Indraprastha Gas shares surge nearly 8% post June quarter nos

Extending its rally for the second consecutive session today, shares of Indraprastha Gas went up sharply by nearly 8 per cent after the company reported 44 per cent jump in June quarter net profit.
The scrip jumped 7.81 per cent to Rs 786.10 -- its 52-week high -- on BSE.
On NSE, it rose by 7.79 per cent to touch its one-year high of Rs 786.60.
The stock had gained over 4 per cent in the previous trading session also.
Indraprastha Gas Ltd, the sole retailer of CNG in national capital region, yesterday reported 44 per cent jump in June quarter net profit on rise in gas sales and lower interest cost.

Net profit of Rs 147.72 crore, or Rs 10.57 a share, in April-June was higher than Rs 102.32 crore, or Rs 7.32 per share, in the same period a year ago, the company had said in a statement.
IGL sells CNG to over 8 lakh vehicles in Delhi and adjoining towns of Noida, Ghaziabad and Greater Noida through a network of over 400 CNG stations. IGL is supplying piped natural gas to over 6.62 lakh households in Delhi and NCR towns.