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Our Bureau

New Delhi, Sept. 22

Indraprastha Gas Ltd (IGL), the supplier of compressed natural gas (CNG) and piped natural gas (PNG) in Delhi, on Friday presented a dividend cheque of Rs 1.75 crore to the Government of NCT of Delhi, one of its stakeholders, for the financial year 2005-06. The Government of NCT of Delhi holds 5 per cent equity stake in IGL. According to a statement issued here, the company said that IGL has declared a 25 per cent dividend for the year 2005-06 compared to a dividend of 20 per cent declared in previous year. Stating that the financial year 2005-06 had been excellent for IGL, the company said that it's gross revenue increased from Rs 528 crore (financial year 2004-05) to Rs 609 crore during 2005-06, and the profit after tax increased from Rs 92.6 crore to Rs 106.13 crore during the corresponding period.

IGL is targeting the vast potential in the private vehicle segment and is encouraging conversion of private cars to CNG mode, the company said. The price of CNG fixed by IGL in Delhi is the least in the country and it offers around 70 per cent savings towards the running cost when compared to petrol driven vehicles.

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