Indraprastha Gas April-June quarter net up 6% at Rs 85.05 crore

NEW DELHI: Indraprastha Gas Ltd (IGL) today reported 6 per cent rise in net profit at Rs 85.05 crore for the quarter ended June 30 on the back of higher sales volumes.

IGL, the sole supplier of Compressed Natural Gas (CNG) to automobiles and piped cooking gas to households in national capital territory, had reported a net profit of Rs 80.07 crore in the same period a year ago.

Turnover during the reporting quarter soared 41 per cent to Rs 841.35 crore, compared to Rs 595.70 crore in the corresponding period last year, the company said in a press release here.

"There has been an overall sales volume growth of 15 per cent over the corresponding quarter in the last fiscal," it said. "Product wise, CNG recorded sales volume growth of 13 per cent, while piped natural gas recorded sales volume growth of 23 per cent in the quarter as compared to last year".

IGL is currently on a fast track expansion programme. Its 261 CNG stations are currently in operation in Delhi, Noida, Greater Noida and Ghaziabad. IGL is supplying piped natural gas to nearly 350,000 households in Delhi and NCR towns.