State-run Indraprastha Gas (IGL) reported a 73 per cent Y-o-Y growth in its consolidated net profit at ₹481 crore for the April-June period this fiscal year. On a sequential basis, the gas utility’s profits were up by 12 per cent.
The company’s consolidated total income rose more than two-fold on a year-on-year (Y-o-Y) basis to ₹3,561 crore in Q1 FY23. On a quarter-on-quarter (Q-o-Q) basis, the income was up 30 per cent.
For the quarter ended June 2022, IGL registered an overall sales volume growth of 48 per cent over the corresponding quarter in the last fiscal, with average daily sale going up from 5.32 million standard cubic meters per day (mscmd) to 7.89 mscmd, the company said in a statement.
Product wise, CNG recorded sales volume growth of 63 per cent (Y-o-Y), while PNG recorded sales volume growth of 17 per cent in the quarter as compared to corresponding quarter last year.
IGL operates City Gas Distribution (CGD) networks across 30 districts in eleven geographical areas (GAs) across Delhi, Uttar Pradesh, Haryana and Rajasthan.