INDRAPRASTHA GAS LIMITED ANNOUNCES RESULTS FOR FY 2020
The company’s gross turnover has grown to Rs. 7131 crores in FY 20 from Rs. 6337 crores in FY 19 showing an increase of 13%. The net profit in FY 20 has shown a growth of 44% from Rs 786 crores in FY 19 to Rs. 1135 crores in FY 20
New Delhi : Indraprastha Gas Ltd. (IGL), the largest CNG distribution company of the country, operating City Gas Distribution (CGD) networks in Delhi, Noida, Greater Noida, Ghaziabad, Muzzafarnagar, Rewari, Gurugram and Karnal today announced its Q4 results and audited financial results for 2019-20.
In Q4 of 2019-20, the company’s net profit for the quarter increased from Rs. 224.72 crores in the corresponding period last year to Rs 252.63 crore in FY’20 showing an increase of 12%. During this period, IGL registered a turnover of Rs. 1697 crore as compared to Rs. 1694 crore in the corresponding period last year. Overall sales volume was 567 mmscm in Q4 of 2019-20 as compared to 564 mmscm in Q4 of 2018-19.
The company’s gross turnover has grown to Rs. 7131 crores in FY 20 from Rs. 6337 crores in FY 19 showing an increase of 13%. The net profit in FY 20 has shown a growth of 44% from Rs 786 crores in FY 19 to Rs. 1135 crores in FY 20, driven by higher volumes and reduction in corporate tax rates. During 2019-20, total sales volume grew by 9% over the previous year with CNG recording 7% growth in volumes and PNG recording volume growth of 12%. The average daily gas sale during the year has gone up to 6.44 mmscmd from 5.91 mmscmd in the previous year. The board has recommended a dividend of 140% for consideration of the members in Annual General Meeting.
After consolidating the financial results of two associate companies, CUGL & MNGL, the consolidated net profit after tax of the company comes to Rs 1248 crores against the consolidated profit of Rs 841 crores in the previous year.
