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The net profit of Indraprastha Gas Ltd (IGL) in 2010-11 rose by 20 per cent to Rs 259.77 crore from Rs 215.5 crore in FY10.
The gross turnover of the company grew 61 per cent in 2010-11, to Rs 1,952 crore from Rs 1,213 crore in the corresponding period last year, according to a company release issued here on Monday.
The company is the sole supplier of compressed natural gas and piped natural gas in the National Capital Territory of Delhi.
During 2010-11, the total sales volume of IGL grew by 28 per cent over the previous year. The average daily gas sale during the year was up to 2.75 mmscmd from 2.14 mmscmd in the previous year.
The board has recommended a dividend of 50 per cent for consideration of the members in annual general meeting.
In the fourth quarter of 2010-11, the company's net profit rose from Rs 51.49 crore last year to Rs 69.16 crore in FY11. During this period, IGL registered a turnover of Rs 566 crore compared with Rs 324 crore in the corresponding period last year, registering a sales value growth of 75 per cent in financial terms
The company said over 60,000 new domestic PNG connections would be added in 2011-12, taking the total number of domestic PNG connections in Delhi, Noida, Greater Noida and Ghaziabad to over three lakh. Over 30 new CNG stations have also been planned, it added.
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