Companies

Q2 result: IGL net profit rises 10.9% to ₹ 187.28 cr

Our Bureau New Delhi | Updated on November 05, 2018 Published on November 05, 2018

Indraprastha Gas Limited has reported a ₹ 187.28 crore net profit for the second quarter of financial year 2018-2019. This is 10.9 per cent higher than the ₹ 168.87 crore net profit reported by IGL in the sane quarter of the financial year 2017-2018.

Total income for the company is up to ₹ 1,601.90 crore during the quarter under review from ₹ 1,256.32 crore in the second quarter of financial year 2017-2018.

The higher income is on account of an increase in sales volumes. According to a regulatory filing, during the second quarter of financial year 2018-2019, CNG sales volume has increased by 13 per cent (to 290 million standard cubic meter) and PNG sales volumes increased by 14 per cent (to 136 million standard cubic meter) over the second quarter of financial year 2017-2018. On an overall basis there is a 13 per cent increase (to 542 million scm) in sales volume during this quarter over corresponding quarter of financial year 2017-2018.

Total gross sales value during this quarter was reported at ₹ 1,564 crore, registering a growth of 28 per cent over sales turnover of ₹ 1,227 crores reported in the second quarter of financial year 2017-2018. Product wise, CNG recorded sales of ₹ 1,174 crore, registering a growth of 24 per cent and PNG recorded sales of ₹ 390 crore, registering a growth of 40 per cent over previous year.

The company reported an increase in total expenses to ₹ 1,311.58 crore during the quarter under review from ₹ 1,175.12 crore in the corresponding quarter of financial year 2017-2018. The increase in operating expenses during the quarter is mainly due an increase in power and fuel expenses due to increase in sales volume of CNG at IGL and oil marketing companies stations in current quarter. There was also an increase in AMC cost of Compressors and Dispensers, the company said.

IGL also reported a combined profit from the company’s shareholding in CUGL and MNGL at ₹ 23.5 crores during the second quarter of financial year 2018-2019.

Published on November 05, 2018
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