Indraprastha Gas Limited (IGL) on January 27 reported a year-on-year decline of 31 percent in consolidated net profit at Rs 325.42 crore as the government cuts APM gas allocation for the city gas distribution (CGD) players.
The CGD company’s net profit was Rs 475.45 crore in the same period last year. IGL’s revenue from operations was higher at Rs 4,146.09 crore in the quarter, compared to Rs 3,926.19 crore last year.
The compressed natural gas (CNG) volumes of the company increased 6 percent at 616.61 million SCM in Q3FY25, growing from 582.19 million SCM in the previous quarter. The volume of domestic piped natural gas (PNG) saw a growth of 17 percent while industrial/ commercial PNG witnessed an uptick of 14 percent in the quarter from Q3FY24.
Meanwhile, the total volumes of the company in the quarter rose by 7 percent from previous quarter at 9.11 million metric standard cubic metre per day (MMSCMD).
On January 27, IGL’s shares closed at Rs 377.65 on BSE, falling 1.45 percent from previous day’s close.
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