Indraprastha Gas' (IGL) performance for the June quarter (Q1), as expected, was severely impacted by the lockdown. Given the decline in vehicular traffic and commercial activities, total sales volumes were down 57 per cent year-on-year to 247 million scm (standard cubic meter) – compressed natural gas (CNG) volumes declined 66 per cent year-on-year, and piped natural gas (PNG) commercial/industrial volumes fell 40 per cent year-on-year.
As CNG contributes the most to topline (73 per cent in FY20), net revenues declined 60 per cent. Lower input gas costs partly insulated gross ...
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