Financial Daily from THE HINDU group of publications
Friday, May 26, 2006
Financial Daily from THE HINDU group of publications Friday, May 26, 2006 |
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Corporate
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Financial Performance Indraprastha Gas FY net rises 14.5 pc Our Bureau
New Delhi , May 25 Indraprastha Gas Ltd (IGL) the sole supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the National Capital Territory of Delhi on Wednesday announced that the company's gross turnover has increased to Rs 609.62 crore in financial year 2006 as compared to Rs 528.2 crore in 2004-05, showing a growth of 15.4 per cent. The profit after tax has increased to Rs 106.13 crore from Rs 92.68 crore over the corresponding period previous year, registering a growth of 14.5 per cent. According to a company statement the price of CNG fixed by IGL in Delhi is the lowest in the country and it offers around 70 per cent savings towards the running cost when compared to petrol driven vehicles. When compared to diesel driven vehicles the economics in favour of CNG is 40 per cent and compared to Auto LPG it is around 56 per cent, the company said.
gas distribution
IGL has well laid out its city gas distribution infrastructure in the city of Delhi consisting of about 168.7 km of steel pipeline and 739.6 km of MDPE pipeline and has created 146 CNG stations (including 2 in Noida) and has connected to over 48,000 domestic households, 215 small commercial customers and 41 large commercial customers. In addition, IGL has also commenced supplying Regassified LNG to six industrial consumers in Delhi. The company expects to maintain its growth rate during FY-07 with growth opportunities in the conversion of private cars, introduction of CNG in the category of Light Goods Vehicles (LGVs) and also large-scale expansion of Piped Natural Gas in the domestic, commercial and industrial segments.
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