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INDRAPRASTHA GAS LIMITED ANNOUNCES Q2 RESULTS

As per the unaudited Q2 results announced by the company for the quarter ending September 2020, IGL registered average daily sale of 5.50 mmscmd in the quarter as the lockdown restrictions started getting relaxed. The total gross sales value during the quarter was Rs 1434 crore against Rs 1865 crore during the second quarter of FY’20.

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 and NCR towns of Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Muzaffarnagar, Karnal, Kaithal and Kanpur today announced its financial results for the second quarter of FY’21, as the numbers showed resurgence from the impact of lockdown in the first quarter. As per the unaudited Q2 results announced by the company for the quarter ending September 2020, IGL registered average daily sale of 5.50 mmscmd in the quarter as the lockdown restrictions started getting relaxed. The total gross sales value during the quarter was Rs 1434 crore against Rs 1865 crore during the second quarter of FY’20.

The total comprehensive income for the quarter ending September 2020 was Rs 307.52 crore as compared to Rs 380.72 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 reflects a strong recovery in the second quarter of the fiscal after the gradual easing of restrictions and beginning of unlocking period leading to increased economic activity. Sales have picked up significantly now and presently have almost touched pre-lockdown levels. The impact of the recovery shall further be observed in the results of remaining quarters of the fiscal as educational institutions reopen.

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