IGL reports ₹290.76 crore consolidated net profit in Q4

Our Bureau New Delhi | Updated on June 17, 2020

Board recommends 140% dividend

Indraprastha Gas Limited (IGL) has reported a ₹290.76 crore consolidated net profit for the fourth quarter of financial year 2019-20. This is higher than the ₹228.08 crore consolidated net profit reported by the company in the corresponding quarter of the previous fiscal year.

The IGL board has recommended a dividend of 140 per cent for consideration of the members in Annual General Meeting.

Consolidated total income during the quarter under review stood at ₹1,742.46 crore (₹1,739.20 crore).

“Overall sales volume was 567 million standard cubic meters (mscm) in the fourth quarter of 2019-20 as compared to 564 mscm in the fourth quarter of 2018-19,” a company statement said.

During the full financial year 2019-20, total sales volume grew by 9 per cent over the previous year with Compressed Natural Gas (CNG) recording a 7 per cent growth in volumes and Piped Natural Gas (PNG) recording a volume growth of 12 per cent. The average daily gas sale during the year has gone up to 6.44 mscm per day from 5.91 mscm per day in the previous year.

Total income for FY20 stood at ₹7,308.67 crore (₹6,490.32 crore). Profit for the full fiscal ending March 2020 stood at ₹1,248.99 crore, up from ₹842.10 crore in the previous fiscal.

IGL is the largest CNG distribution company of the country, operating City Gas Distribution networks in Delhi, Noida, Greater Noida, Ghaziabad, Muzzafarnagar, Rewari, Gurugram and Karnal.

Published on June 17, 2020

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