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IGL ANNOUNCES Q1 RESULTS Net profit Rs 32 crore

New Delhi, : Indraprastha Gas Limited (IGL), the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida and Ghaziabad today announced its financial results for the first quarter of FY’21, which had been impacted by the nationwide lockdown leading to highly restricted mobility on the roads.

As per the unaudited Q1 results announced by the company for the quarter ending June 2020, IGL registered average daily sale of 2.72 mmscmd in the quarter impacted by the lockdown. The total gross sales value during the quarter was Rs 687 crore against Rs 1738 crore during the first quarter of FY’20.

The net profit for the quarter ending June 2020 was Rs 32 crore as compared to Rs 218 crore in the corresponding quarter in the last fiscal. These are standalone results for IGL only and do not include profits accruing from associate companies. 

However, with the increased economic activity since easing of restrictions after lockdown, sales are picking up significantly in all segments and are expected to touch pre-lockdown levels shortly. The impact of the same shall be observed in the results of remaining quarters of the fiscal.

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