IGL posts 9% rise in net profit at Rs 433 crore for Jan-March quarter

New Delhi, May 7 Indraprastha Gas Ltd (IGL) on Tuesday reported a 9 per cent rise in consolidated net profit at Rs 433.29 crore for the January-March quarter of the 2023-24 fiscal, compared to the corresponding figures of Rs 397.51 crore reported in the same period of the previous fiscal.

The city gas distribution company registered a total revenue from operations at Rs 3,964.42 crore, which was marginally lower than Rs 4,056.44 crore recorded in the same quarter last year.

The total volume of gas sold by the company increased by 6 per cent over the previous year to 8.73 mmscmd (million metric standard cubic meters per day) in the fourth quarter.

While the CNG volumes recorded a 5 per cent growth year-on-year at 580 million scm, PNG (domestic) and PNG (industrial/commercial) witnessed 17 per cent and 12 per cent rise, respectively, during the quarter compared to the same period of 2022-23.

Shares of IGL settled at Rs 437.20 apiece on the BSE at close on Tuesday.

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