IGL quarter in 2020-21 to Rs 244.29 crore in Q1 of FY’22 showing a jump of 677%. During this period.
INDRAPRASTHA GAS LIMITED ANNOUNCES Q1 RESULTS
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 across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan today announced its financial results for the first quarter of FY’22, showing a robust growth despite restricted mobility on the roads due to the second wave of the pandemic during the period.
Showing strong resurgence in the ongoing fiscal 2021-22, the company’s net profit for the first quarter increased from a low base of Rs. 31.84 crores reported during national lockdown hit corresponding quarter in 2020-21 to Rs 244.29 crore in Q1 of FY’22 showing a jump of 677%. During this period, IGL registered a turnover of Rs. 1372 crore as compared to Rs. 687 crore in the corresponding period last year showing a growth of 100%. Average sales volume was 5.32 mmscmd in Q1 of 2021-22 as compared to 2.72 mmscmd in Q1 of 2020-21 showing a growth of 96 %. While CNG segment registered sales volume growth of 126%, PNG segment showed overall sales volume growth of 51% during the quarter. 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 first quarter reflect a strong recovery in 2021-22 after a year of reduced economic activity. All the geographical areas where IGL is operating have started generating revenue. Sales have picked up considerably across all geographies and have already crossed pre-lockdown levels of 2019-20.