IGL net profits up by 36 % at Rs. 570.21 cr,

Sarkaritel
By Sarkaritel May 28, 2017 07:26

IGL net profits up by 36 % at Rs. 570.21 cr,


New Delhi May 27, 2017: 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 & Ghaziabad today announced its Q4 results and audited financial results for 2016-17.

In Q4 of 2016-17, the company’s net profit for the quarter increased from Rs. 108.96 crores in corresponding period last year to Rs 133.5 crore in FY’17 showing an increase of 23%. During this period, IGL registered a turnover of Rs. 1100 crore as compared to Rs. 976 crore in the corresponding period last year thereby showing a growth of 13%.

There has been an overall sales volume growth of 16% over the corresponding quarter in the last fiscal, with CNG sales volume growing by 11% and PNG sales volume growing by 25%.

The company’s gross turnover has grown to Rs. 4205 crores in FY 17 from Rs. 4052 crores in FY 16. The net profit in FY 17 has shown a growth of 36 % from Rs 418.7 crores in FY 16 to Rs. 570.21 crores in FY 17, driven by higher volumes. During 2016 – 17, total sales volume grew by 14% over the previous year with CNG recording 10% growth in volumes and PNG recording volume growth of 19%.

The average daily gas sale during the year has gone up to 4.59 mmscmd from 4.01 mmscmd in the previous year. The board has recommended a final dividend of 50% for consideration of the members in Annual General Meeting in addition to 35% interim dividend already declared and paid.

After consolidating the financial results of two associate companies, CUGL & MNGL, the consolidated net profit after tax of the company comes to Rs 605.28 crores against consolidated profit of Rs 457.58 crores in the previous year, thereby showing a growth of 32.27%.

Sarkaritel
By Sarkaritel May 28, 2017 07:26