Indraprastha Gas Limited (IGL) has reported 29.27 per cent year on year (YoY) rise in net profit in the second quarter of financial year (FY) 2023-24. Net profit during the quarter stood at Rs 5.52 billion against Rs 4.27 billion profit in the corresponding period during FY 2022-23.
However, the revenue from operations witnessed a decline of 2.61 per cent on YoY basis from Rs 39.22 billion in July-September 2023 quarter to Rs 38.22 billion in July-September 2022 period.
Besides, the total gas sales volume increased by 3 per cent from 744.17 million standard cubic meters (mscm) to 763.8 mscm. Sales of compressed natural gas (CNG) rose from 560.25 mscm to 574.72 mscm, whereas sales of piped natural gas (PNG) witnessed a rise of 6.16 mscm from 183.92 mscm to 189.08 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.