IGL's annual turnover increases by 33%

NEW DELHI: Indraprastha Gas Limited ( IGL) the sole supplier of compressed natural gas ( CNG) and piped natural gas ( PNG) in Delhi and NCR witnessed a growth of 33% in its annual turnover increasing from 2,790 crore in FY12 to Rs. 3,724 crore in FY13.

The net profit of the company increased by 16% over last year to Rs 354 crore in FY13. During 2012 - 13, total sales volume grew by 10% over the previous year. The average daily gas sale during the year went up to 3.66 mmscmd from 3.33 mmscmd in the previous year.

IGL's board also recommended a dividend of 55% for the financial year 2012-13 for consideration of the members in annual general meeting.

In Q4 of 2012-13, the company's net profit for the quarter increased from Rs. 80 crore in corresponding period last year to Rs 84 crore in FY'13. During this period, IGL registered a turnover of Rs. 974 crore as compared to Rs. 798 crore in the corresponding period last year thereby registering a sales value growth of 22% in financial terms. There has been an overall sales volume growth of 5% over the corresponding quarter in the last fiscal.

In terms of operations, IGL currently has 287 CNG stations across Delhi, Noida, Greater Noida and Ghaziabad and is meeting fuel requirements of over 6.5 lakh vehicles running on CNG in NCR. IGL is supplying PNG to nearly 3.9 lakh households in Delhi and NCR towns.