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Indraprastha Gas Ltd has reported a ₹175.89-crore net profit for the first quarter of financial year 2018-2019. This is 9.07 per cent higher than the ₹161.26 crore net profit reported for the corresponding quarter of financial year 2017-2018.
The increase in turnover was due to the increase in the total sales quantity by 13 per cent and an increase in the average sales price of CNG and PNG by 10 per cent. Total income was up at ₹1,448.59 crore during the quarter under consideration, from ₹1,167.36 crore during the corresponding quarter of the last financial year.
A company statement said, “During the first quarter of financial year 2018-2019, the CNG sales volume increased by 10 per cent. There was an increase in PNG sales to the industrial/ commercial segment by 29 per cent during the quarter. The PNG domestic segment has also shown a growth of 10 per cent as compared to the same quarter in the previous year.”
“On an overall basis there has been 13 per cent growth in sales volume during this quarter over the corresponding quarter of financial year 2017-2018. The total gross sales value during the quarter was ₹1,418 crore as against ₹1,145 crore, showing a growth of 24 per cent. Product-wise, CNG recorded sales of ₹1,076 crore, showing a growth of 21 per cent and PNG recorded sales of ₹342 crore, showing a growth of 34 per cent,” the statement added.
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