New Delhi, November 6, 2018: Indraprastha Gas Limited (IGL), the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida and Ghaziabad today announced its financial results for the second quarter of FY’19, while continuing the growth momentum.
As per the unaudited Q2 results announced by the company for the quarter ending September 2018, IGL registered an overall sales volume growth of 13% over the corresponding quarter in the last fiscal, with the average daily sale going up from 5.21 mmscmd to 5.89 mmscmd. Product wise, CNG recorded sales volume growth of 13%, while PNG recorded sales volume growth of 14% in the quarter as compared to corresponding quarter last year.
This has primarily been driven by 24 % increase in Industrial & Commercial PNG volumes driven by industry embracing clean fuels. Accordingly, the total gross sales value during the quarter has moved to Rs 1564 crore as compared to Rs 1241 crore during the second quarter of FY’19, thereby showing a growth of 28%.
The net profit for the quarter ending September 2018 has increased by 11% to Rs 187.23 crore from Rs 168.61 crore in the corresponding quarter in the last fiscal. These are standalone results for IGL only and do not include profits accruing from associate companies.
