Indraprastha Gas Limited (IGL) has reported a 42.32 per cent year on year (YoY) increase in net profit in the third quarter of financial year (FY) 2023-24. The net profit during the quarter stood at Rs 4.75 billion as against Rs 3.34 billion profit in the third quarter of FY 2022-23.
The revenue from operations witnessed a 3.99 per cent decrease on YoY basis from Rs 40.89 billion in October-December 2022 period to Rs 39.26 billion in October-December 2023 period.
Besides, earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 5.64 billion during the third quarter of FY 2023-24 as against Rs 4.28 billion in third quarter of FY 2022-23.
The total sales volume stood at 8.48 million standard cubic meter per day (mscmd), compressed natural gas (CNG) volumes at 582.19 standard cubic meter (scm) million and piped natural gas (PNG) volumes at 198.07 scm million during the October- November 2023 period under consideration.
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-NCR and its neighbouring cities.