Indraprastha Gas profit rises 28%

Nov 07 2012, 17:45 IST
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SummarySales was up 43 per cent to Rs 947.24 crore.

Indraprastha Gas Ltd (IGL) today reported a 28 per cent rise in its September quarter net profit on back of higher sale volumes.

Net profit in July-September increased to Rs 99.21 crore from Rs 77.22 crore in the same period a year ago, IGL, the sole supplier of compressed natural gas (CNG) to automobiles and piped cooking gas to households in the national capital and its adjoining townships, said in a statement.

Sales was up 43 per cent to Rs 947.24 crore.

"The CNG sales volume in the quarter has increased by 9 per cent and piped natural gas sales rose by 19 per cent over second quarter of FY12," the statement said.

"On an overall basis, there is 10 per cent growth in sales volume during this quarter over the corresponding quarter of FY12, with daily sale averaging at 3.69 million standard cubic meters per day," it said.

IGL has embarked on a massive expansion programme to meet the rise in demand from conversion of vehicles to CNG and increased acceptability of piped natural gas as a domestic fuel.

The firm currently operates 271 CNG stations in Delhi, Noida, Greater Noida and Ghaziabad. Besides, it supplies piped natural gas to over 360,000 households.

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