IGL Q2FY22 Results: Profit jumps 30% to Rs 401 cr

Indraprastha Gas Ltd, the firm that retails CNG in the national capital and adjoining cities, on Tuesday reported 30 per cent jump in its second quarter net profit on the back of higher sales volumes.

Net profit of Rs 400.54 crore in July-September 2021-22 is compared with Rs 307.94 crore net earning in the same period a year back, the company said in a statement.

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Turnover soared 40 per cent to Rs 2,005.07 crore in the second quarter of the current fiscal year (2021-22).

IGL said it registered an average daily sale of 7.24 million standard cubic meters in the quarter as compared to 5.50 million standard cubic meters per day sales in the year-ago period, showing a growth of 32 per cent.

While the CNG segment registered a sales volume growth of 36 per cent, piped natural gas supplies to household kitchens and industries grew 22 per cent during the quarter.

IGL is the largest CNG distribution company in the country, operating city gas distribution (CGD) networks across 27 districts in 10 geographical areas spread across Delhi, Uttar Pradesh, Haryana and Rajasthan.