IGL provided 2.10 lakh new PNG connections in 2018-19

New Delhi: Indraprastha Gas Limited (IGL) provided 2.10 lakh new Piped Natural Gas connections and has also won the rights to expand to three new areas in 2018-2019 said IGL Chairman, Gajendra Singh.

Speaking at the 20th Annual General Meeting of the company, Singh said that 54 new Compressed Natural Gas (CNG) stations had been set up during this period, thereby taking the total number of CNG stations set up by IGL to 500.

Singh said that in the last financial year, IGL has been successful in winning authorisation for three new Geographical Areas (GAs) from the Petroleum and Natural Gas Regulatory Board. They are Kanpur (except area already authorized) Hamirpur & Fatehpur districts in Uttar Pradesh, Kaithal district in Haryana and Ajmer, Pali & Rajsamand districts in Rajasthan. Singh said that IGL plans to set up new CNG stations and create pipeline infrastructure in its current areas of operations as well as newly acquired areas by investing Rs. 1170 crore in 2019-2020.

Driven by higher volumes, the net profit of IGL in FY19 was Rs. 786 crores, which was up 17 per cent over Rs 671 crores in FY18. During 2018-19, total sales volume grew by 14 per cent over the previous year with CNG recording 13 per cent growth in volumes and PNG recording volume growth of 15 per cent.