Indraprastha Gas net profit up 9 per cent in Q4

Our Bureau | | Updated on: May 18, 2022

Wooden blocks with percentage sign and arrow up, financial growth, interest rate increase, inflation concept | Photo Credit: ThitareeSarmkasat

The utility registered a turnover of ₹2,638 crore during the quarter

The utility registered a turnover of ₹2,638.20 crore in January-March of FY22 compared to ₹1,700.52 crore in the same period last fiscal year clocking a y-o-y growth of 55 per cent.

“The overall sales volume was 697 million standard cubic meters (mscm) in Q4 of FY22 as compared to 614 mscm in Q4 FY21 showing a growth of 13 per cent. While CNG sales volume grew 16 per cent on an annual basis, PNG showed overall sales volume growth of 7 per cent during the quarter,” IGL said in a statement.

IGL’s gross turnover stood at ₹8,443 crore in the entire FY22 compared to ₹5,409 crores in FY21 showing a strong resurgence with growth at 56 per cent.

The net profit in FY22 was ₹1,314.95 crore compared to ₹1,005.65 crore in FY21, showing a growth of 31 per cent. The average daily gas sale during the fiscal was 6.99 million standard cubic meters per day (mscmd) as compared to 5.33 mscmd in FY21 showing a growth of 31 per cent.

While CNG volumes registered a growth of 36 per cent in the fiscal, PNG sales volumes were up by 20 per cent in FY22 over the previous fiscal. The board has recommended a dividend of 275 per cent for consideration of the members in the Annual General Meeting.

“After consolidating the financial results of two associate companies, CUGL and MNGL, the consolidated net profit after tax of the company comes to ₹1,504 crore against a consolidated profit of ₹1,172 crore in the previous year,” the company said.

The country’s largest CNG distribution company, IGL operates City Gas Distribution (CGD) networks across 30 districts in 11 geographical areas (GAs) across states of Delhi, Uttar Pradesh, Haryana and Rajasthan.

Published on May 18, 2022
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