Indraprastha Gas reports a decline in Q3 net profit to ₹308.52 crore
Premium- IGL, however, maintained gross profit at the same level of around ₹830 crore.
India’s largest CNG distribution company, Indraprastha Gas on Tuesday reported a decline in net profit to ₹308.52 crore during the quarter ending December 2021, against ₹334.87 crore in the corresponding period last fiscal.
IGL, however, maintained gross profit at the same level of around ₹830 crore.
The company in a corporate filing said it registered an average daily sale of 7.66 mmscmd in the quarter as compared to 6.26 mmscmd in the corresponding quarter of FY’21 “thereby showing a strong volume growth of 22%".
These are standalone results for IGL only and do not include profits accruing from associate companies, it added.
“While the CNG segment registered sales volume growth of 26%, PNG segment showed overall sales volume growth of 14% during the quarter. The total gross sales value during the quarter was ₹2428.06 crore against ₹1587.36 crore during the third quarter of FY’21," the company further added.
IGL operates City Gas Distribution (CGD) networks across 27 districts in ten geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan.
MINT PREMIUM See All
Volume growth continued the strong momentum gained in the second quarter, after the pandemic restrictions hit the first quarter, the company also said.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!