You are here: Home » PTI Stories » National » News
Business Standard

IGL net rises 11 pc in Q2

Topics
Business Finance

Press Trust of India  |  New Delhi 

Indraprastha Gas Ltd, the firm retailing CNG and piped natural gas in the national capital, Monday reported a 11 per cent rise in its September quarter net profit on the back of increase in volumes of gas sold.

Standalone net profit in the July-September period at Rs 187.23 crore was higher than Rs 168.61 crore recorded in the year-ago period, the company said in a statement.

IGL, which supplies Compressed Natural Gas (CNG) to automobiles and Piped Natural Gas (PNG) to households in the National Capital Territory of Delhi, Noida, Greater Noida and Ghaziabad, posted a 13 per cent increase in sales volume growth. Average daily sale rose from 5.21 million metric standard cubic metres per day to 5.89 mmscmd.

"Product wise, CNG recorded sales volume growth of 13 per cent, while PNG recorded sales volume growth of 14 per cent in the quarter as compared to corresponding quarter last year.

"This has primarily been driven by 24 per cent increase in industrial and commercial PNG volumes driven by industry embracing clean fuels," the statement said.

Total gross sales value rose 28 per cent to Rs 1,564 crore in the latest September quarter compared to Rs 1,241 crore in the year ago period.

IGL sells CNG to over 10.5 lakh vehicles running in the national capital region through a network of 452 CNG stations. It also is supplies PNG to nearly 10 lakh households in Delhi and NCR towns.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, November 05 2018. 18:55 IST
RECOMMENDED FOR YOU