IGL's Q2 net profit rises by 30% to `400.54 crore

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 spread across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan on Tuesday announced its financial results for the second quarter of FY'22, showing a strong resurgence after restrictions due to the second wave of the pandemic.

As per the unaudited Q2 results announced by the company for the quarter ending September 2021, IGL registered average daily sale of 7.24 mmscmd in the quarter as compared to 5.50 mmscmd in the corresponding quarter during last fiscal showing a growth of 32 per cent. While CNG segment registered sales volume growth of 36 per cent, PNG segment showed overall sales volume growth of 22 per cent during the quarter.

The company's net profit for the second quarter increased from Rs 307.94 crore reported during second quarter of FY21 to Rs 400.54 crore in Q2 of FY'22 showing a jump of 30 per cent.

During this period, IGL registered a turnover of Rs 2005.07 crore as compared to Rs 1433.90 crore in the corresponding period last year showing a growth of 40 per cent.

The total comprehensive income for the quarter ending September 2021 was Rs 400.49 crore as compared to Rs 307.52 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.