Indraprastha Gas Limited (IGL), the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida and Ghaziabad today announced its financial results for the first quarter of FY’18, while continuing the growth momentum.
The Board of Directors of IGL also approved the subdivision of existing one Equity Share of Rs 10/- each into Equity Shares of Rs 2/- each subject to approval of the members at the forthcoming Annual General Meeting of the company.
As per the unaudited Q1 results announced by the company for the quarter ending June 2017, IGL registered an overall sales volume growth of 13% over the corresponding quarter in the last fiscal, with the average daily sale going up from 4.34 mmscmd to 4.90 mmscmd.
Product wise, CNG recorded sales volume growth of 11%, while PNG recorded sales volume growth of 18 in the quarter as compared to corresponding quarter last year.
Accordingly, the total gross sales value during the quarter has moved to Rs 1157 crore as compared to Rs 995 crore during the first quarter of FY’17, thereby showing a growth of 16%.
The net profit for the quarter ending June 2017 has increased by 9% to Rs 161 crore from Rs 147.72 crore in the corresponding quarter in the last fiscal. These are standalone results for IGL only and do not include profits accruing from associate companies.
The role of IGL in checking the vehicular pollution in the National Capital Region is well acknowledged both at national as well as international forums. IGL has well laid out its city gas distribution infrastructure in Delhi, Noida, Greater Noida and Ghaziabad which consists of nearly 11000 Kms of pipeline network. IGL is meeting fuel requirements of over 9.75 lakh vehicles running on CNG in NCR through a network of 425 CNG stations. IGL is also supplying PNG to nearly 7.8 lakh households in Delhi and NCR towns.