New Delhi, Indraprastha Gas Limited (IGL), the largest CNG distribution company of the country, operating City Gas Distribution (CGD) networks across 30 districts in eleven geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan today announced its financial results for the third quarter of FY’23.
As per the unaudited Q3 results announced by the company for the quarter ending December 2022, IGL registered an overall sales volume growth of 6% over the corresponding quarter in the last fiscal, with the average daily sale going up from 7.66 mmscmd to 8.12 mmscmd. Product wise, CNG recorded sales volume growth of 8%, while PNG recorded sales volume growth of 1% in the quarter as compared to corresponding quarter last year. The total gross sales value during the quarter has moved to Rs.4072.93 crore as compared to Rs.2428.06 crore during the third quarter of FY’23.
The net profit for the quarter ending December 2022 has decreased by 10% to Rs.278.26 crore from Rs.308.52 crore in the corresponding quarter in the last fiscal. However, on nine months basis, the net profit has increased by 17% from Rs.953 crore to Rs.1115 crore. These are standalone results for IGL only and do not include profits accruing from associate companies. The Board has also approved payment of interim dividend of Rs.3 per share.
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