Comments
Indraprastha Gas Limited (IGL) has reported a net profit of Rs 108.96 crore for the fourth quarter of financial year 2016-2017. This is 23 per cent higher than the net profit in the corresponding period of financial year 2015-16, which stood at Rs 133.5 crore.
The IGL Board has recommended a final dividend of 50 per cent for consideration of the members in Annual General Meeting in addition to 35 per cent interim dividend already declared and paid.
An official statement said that IGL registered a turnover of Rs 1100 crore during 2016-2017. This 13 per cent higher than the Rs 976 crore turnover for the corresponding period in 2015-2016.
The increase in profits and turnover correspond to the sales volume growth of 16 per cent over the corresponding quarter in the fiscal 2015-2016, with CNG sales volume growing by 11 per cent and PNG sales volume growing by 25 per cent.
The company’s gross turnover has grown to Rs 4205 crore in fiscal 2016-2017 from Rs 4052 crore in fiscal 2015-2016. The net profit for the full financial year 2017 has grown to Rs 570.21 crore. This 36 per cent higher than the Rs 418.7 crore net profit in financial year 2015-2016.
During 2016-17, the company’s total sales volume grew by 14 per cent over the previous year with CNG recording 10 per cent growth in volumes and PNG recording volume growth of 19 per cent. The average daily gas sale during the year has gone up to 4.59 mmscmd from 4.01 mmscmd in the previous year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.