Companies

Indraprastha Gas registers 28% rise in Q3 profit

Our Bureau New Delhi | Updated on February 10, 2021 Published on

Indraprastha Gas Limited (IGL) has posted a consolidated net profit of ₹381.83 crore for the December quarter, rising 28 per cent on year-on-year basis.

The firm, which supplies CNG in Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Muzaffarnagar, Karnal, Kaithal and Kanpur, registered an average daily sale of 6.26 mmscmd in the quarter as most of the lockdown restrictions started getting relaxed. The total gross sales value during the quarter was ₹1,587.36 crore against ₹1,831.16 crore during the corresponding period of the previous fiscal year, the company said in a statement.

“Both physical and financial performances of the company reflect a strong recovery after the second quarter due to gradual easing of restrictions and beginning of unlock period leading to increased economic activity,” IGL said in a statement. “Sales have picked up steadily and presently have touched pre-lockdown levels.”

However, consolidated total revenue during the December quarter was ₹1,621 crore, 13.5 per cent lower on a year-on-year basis.

Nine-month profit up 17%

For the nine-month period ended December, the firm’s consolidated net profit stood at ₹797.45 crore, 17 per cent lower on a year-on-year basis. At ₹3,815.21 crore, total revenue fell 31.5 per cent year-on-year.

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Published on February 10, 2021
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