Indraprastha Gas shares up over 4% as net profit jumps

Shares of Indraprastha Gas rose by over 4 per cent today after the company reported 44 per cent jump in June quarter net profit.
The scrip went up 4.29 per cent to end at Rs 729.15 on BSE. During the day, it gained 4.98 per cent to Rs 734 - its 52-week high.
At NSE, shares of the company rose 4.36 per cent to close at Rs 729.70.
Indraprastha Gas Ltd, the sole retailer of CNG in national capital region, today reported 44 per cent jump in June quarter net profit on rise in gas sales and lower interest cost.

Net profit in April-June at Rs 147.72 crore, or Rs 10.57 a share, was higher than Rs 102.32 crore, or Rs 7.32 per share, in the same period a year ago, the company said in a statement.
IGL sells CNG to over 8 lakh vehicles in Delhi and adjoining towns of Noida, Ghaziabad and Greater Nodia 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.