IGL registers increase in net profit during first quarter of FY 2021-22

Indraprastha Gas Limited (IGL) has registered nearly 700 per cent year-on-year rise in its first quarter net profit for financial year (FY) 2021-22 as gas sales soared compared to the lockdown-hit period in 2020. Net profit in the first quarter of FY 2021-22 at Rs 2.44 billion was 677 per cent higher than Rs 0.31 billion net profit in the same period in 2020-21. Meanwhile, turnover doubled to Rs 6.87 billion.

IGL operates a city gas distribution network of retailing compressed natural gas (CNG) to automobiles and piped natural gas (PNG) to households and industries in 27 districts across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan. It sells CNG to over 1.2 million vehicles in the national capital region through a network of 612 CNG stations and supplies PNG to over 1.7 million households.