City gas supplier Indraprastha Gas Limited (IGL) on Friday reported a 9.31 per cent increase in net profit for the first quarter ended June at Rs 176 crore as compared to the corresponding quarter a year ago. This was a result of higher sales and increase in average prices of compressed natural gas (CNG) and piped natural gas (PNG).
The company reported a net profit of Rs 161 crore during the corresponding quarter last financial year. Total income of the company also increased 24 per cent to Rs 1,449 crore during the first quarter as compared to the corresponding quarter a year ago.
IGL’s CNG sales during the quarter rose 10 per cent to 273 million kg while PNG sales increased 18 per cent to Rs 129 crore, as compared to the corresponding quarter a year ago.
The company’s sales from CNG business increased 21 per cent to Rs 1,076 crore during the first quarter, while PNG sales increased 34 per cent to Rs 342 crore,as compared to the corresponding year last fiscal. Read More
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