Indraprastha Gas Ltd Q3 net profit up 3% to Rs 69 cr

NEW DELHI: Indraprastha Gas Ltd (IGL) today reported three per cent increase in net profit to Rs 69.15 crore in the third quarter ended December 31.

IGL, the sole supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida & Ghaziabad, had reported a net profit of Rs 67.19 crore in the October-December period of 2010-11 fiscal, the company said in a statement.

It registered 44 per cent rise in turnover at Rs 733.61 crore as compared to Rs 508.76 crore in the corresponding period last year.

Product wise, CNG recorded sales rose 34 per cent at Rs 569.72 crore, while PNG sales almost doubled to Rs 163.88 crore.

In Q3 of 2011-12, the CNG sales volume has increased by 16 per cent and PNG sales volumes increased by 64 per cent. "On an overall basis there is 25 per cent growth in sales volume during this quarter over the corresponding quarter of FY'11," the statement added.