HomeBUSINESSIGL’s Q1 net profit grows 72% to ₹420.86 crore

IGL’s Q1 net profit grows 72% to ₹420.86 crore


NEW DELHI : Indraprastha Gas Limited (IGL) on Tuesday reported a 72% increase in its standalone net profit for the April-June quarter at 420.86 crore.

During the same period last fiscal (FY22), the company had registered a net profit of 244.29 crore.

In a statement, IGL said that during the quarter under review, its overall sales volume growth was 48% over the corresponding quarter in the last fiscal, with the average daily sale going up from 5.32 million metric standard cubic meter per day (mmscmd) to 7.89 mmscmd. 

Product wise, CNG recorded sales volume growth of 63%, while PNG recorded sales volume growth of 17% in the quarter as compared to corresponding quarter last year. 

The total gross sales value during the quarter has moved to 3,519 crore as compared to 1,372 crore during the first quarter of FY23, thereby logging a growth of 157%. 

IGL has a city gas distribution (CGD) networks across 30 districts in eleven geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan.

It has a CGD network of over 17,000 km spread across Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Karnal, Kaithal, Fatehpur, Ajmer, Pali, Rajsamand, Hamirpur, Shamli, Muzaffarnagar, parts of Kanpur and Meerut.

It meets fuel requirements of over 1.6 million vehicles running on CNG through a network of more than 714 CNG stations. IGL has connected nearly two million households in these cities with PNG. 

It has also been authorized to undertake city gas distribution projects in Chitrakoot, Mahoba and Banda districts of Uttar Pradesh as well.

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