Moneycontrol
Aug 11, 2017 06:30 PM IST | Source: PTI

Indraprastha Gas Q1 net profit up 9% YoY at Rs 161 crore

Indraprastha Gas, the sole supplier of CNG to automobiles and piped cooking gas to households in the national capital, on Friday reported a 9 percent rise in June quarter net profit on higher sales volume.

Indraprastha Gas Q1 net profit up 9% YoY at Rs 161 crore

Indraprastha Gas, the sole supplier of CNG to automobiles and piped cooking gas to households in the national capital, on Friday reported a 9 percent rise in June quarter net profit on higher sales volume.

Net profit in April-June, at Rs 161 crore, was 9 percent higher than Rs 147.72 crore in the same period last fiscal, the company said in a statement.

The company's board also approved splitting existing Rs 10 share into five shares of Rs 2 each.

"IGL registered an overall sales volume growth of 13 percent over the corresponding quarter in the last fiscal, with the average daily sale going up from 4.34 million standard cubic meters per day to 4.90 mmscmd," the statement said.

CNG recorded sales volume growth of 11 percent, while piped cooking gas recorded sales volume growth of 18 percent in the first quarter.

Total gross sales value moved to Rs 1,157 crore as compared to Rs 995 crore during the first quarter of FY2016- 17, thereby showing a growth of 16 percent.

IGL sells CNG to 9.75 lakh vehicles in the national capital region through a network of 425 stations and also supplies piped cooking gas to nearly 7.8 lakh households.
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