Tuesday, October 4, 2022

Indraprastha Gas Ltd net profit up 72% in Q1 of FY’23

Indraprastha Gas Limited (IGL) on Tuesday reported a 72 percent rise in the June quarter net profit on the back of a rise in sales volume

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New Delhi: Indraprastha Gas Limited (IGL), the firm that retails CNG and piped cooking gas in the national capital, on Tuesday reported a 72 percent rise in the June quarter net profit on the back of a rise in sales volume.

The net profit of Rs 420.86 crore in April-June compared with Rs 244.29 crore in the corresponding quarter of last fiscal, the company said in a statement.

“IGL registered an overall sales volume growth of 48 per cent over the corresponding quarter in the last fiscal, with the average daily sale going up from 5.32 million standard cubic meters to 7.89 mmscmd,” it said.

Product-wise, CNG recorded sales volume growth of 63 per cent, while piped natural gas recorded sales volume growth of 17 per cent in the quarter.

Accordingly, the total gross sales value during the quarter has moved to Rs 3,519 crore compared to Rs 1,372 crore, showing a growth of 157 percent.

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