IGL ANNOUNCES Q2 RESULTS Second quarter increased from Rs. 307.94 crore net Pfofit

New Delhi,: Indraprastha Gas Limited (IGL), the largest CNG distribution company of the country, operating. City Gas Distribution (CGD) networks across 27 districts in ten geographical areas spread across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan today announced its financial results for the second quarter of FY’22, showing a strong resurgence after restrictions due to the second wave of the pandemic.

As per the unaudited Q2 results announced by the company for the quarter ending September 2021, IGL registered average daily sale of 7.24 mmscmd in the quarter as compared to 5.50 mmscmd in the corresponding quarter during last fiscal showing a growth of 32%. While CNG segment registered sales volume growth of 36%, PNG segment showed overall sales volume growth of 22% during the quarter. The company’s net profit for the second quarter increased from Rs. 307.94 crore reported during second quarter of 2020-21 to Rs 400.54 crore in Q2 of FY’22 showing a jump of 30%. During this period, IGL registered a turnover of Rs. 2005.07 crore as compared to Rs. 1433.90 crore in the corresponding period last year showing a growth of 40%.The total comprehensive income for the quarter ending September 2021 was Rs 400.49 crore as compared to Rs 307.52 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.

Both physical and financial performance of the company during the second quarter reflect a strong recovery in 2021-22 after lockdown hit first quarter due to second wave of the pandemic. All the geographical areas where IGL is operating have started generating revenue. Sales have picked up considerably across all geographies and have shown remarkable growth above pre-lockdown levels. They are expected to grow further as the educational institutions open in the coming days.