Indraprastha Gas Limited (IGL) has reported 8.47 per cent year on year (YoY) rise in net profit in the first quarter of financial year (FY 2023-24). Net profit during the quarter stood at Rs 5.22 billion against Rs 4.81 billion profit in the corresponding period during FY 2022-23.
The revenue from operations witnessed a rise of 6.56 per cent on YoY basis from Rs 35.3 billion to Rs 37.62 billion for the same duration. Besides, the total gas sales volume increased by 3.95 per cent from 717.84 million standard cubic meters (mscm) to 746.19 mscm. Sales of compressed natural gas (CNG) rose by 4 per cent from 539.8 mscm to 561.42 mscm, whereas sales of piped natural gas (PNG) witnessed a rise of 3.78 per cent from 178.04 mscm to 184.77 mscm.
IGL is an Indian natural gas distribution company that supplies natural gas as cooking and vehicular fuel. Established in 1998, the company operates primarily in Delhi- national capital region (NCR) and its neighbouring cities.