IGL clocks gross turnover of Rs. 8443 cr and net profits at Rs 1005.65 cr FY22

Sarkaritel
By Sarkaritel May 18, 2022 18:44

IGL clocks gross turnover of Rs. 8443 cr and net profits at Rs 1005.65 cr FY22


New Delhi May 18, 2022: Indraprastha Gas Limited (IGL) the largest CNG distribution company of the country, operating City Gas Distribution (CGD) networks across 30 districts in eleven geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan today announced its Q4 results and audited annual financial results for 2021-22.

Showing a strong performance, the company’s net profit for the quarter increased from Rs. 332.08 crores in corresponding period last year to Rs 363.08 crore in FY’22 showing an increase of 9%. During this period, IGL registered a turnover of Rs. 2638.20 crore as compared to Rs. 1700.52 crore in the corresponding period last year registering a growth of 55%. The overall sales volume was 697 mmscm in Q4 of 2021-22 as compared to 614 mmscm in Q4 of 2020-21 showing a growth of 13%. While CNG registered sales volume growth of 16%, PNG showed overall sales volume growth of 7% during the quarter.

The company’s gross turnover was Rs. 8443 crores in FY’22 as compared to Rs. 5409 crores in FY’21 showing a strong resurgence with growth at 56%. The net profit in FY’22 was Rs 1314.95 crores as compared to Rs 1005.65 crores in FY’21, showing a growth of 31%. The average daily gas sale during the fiscal was 6.99 mmscmd as compared to 5.33 mmscmd in FY’21 showing a growth of 31%. While CNG volumes registered a growth of 36% in the fiscal, PNG sales volumes were up by 20% in 2021-22 over the previous fiscal. The board has recommended a dividend of 275% for consideration of the members in Annual General Meeting.

After consolidating the financial results of two associate companies, CUGL & MNGL, the consolidated net profit after tax of the company comes to Rs 1504 crores against consolidated profit of Rs 1172 crores in the previous year.

Sarkaritel
By Sarkaritel May 18, 2022 18:44