Record 2.72 lakh new PNG connections provided in FY20

New Delhi: Indraprastha Gas Ltd, the gas retailer in the national capital and cities around it, on Monday said it gave out record 2.72 lakh new connections for piped cooking gas to household kitchens during the financial year 2019-20.

Also, the firm set up 55 new CNG stations during April 2019 and March 2020, taking the total number of CNG stations set to 557. This was announced by IGL Chairman P K Gupta while addressing the shareholders at the 21st annual general meeting (AGM) of the company.

"In line with the massive push by the government to expand CNG and piped natural gas (PNG) infrastructure across the country, IGL provided a record number of 2.72 lakh new PNG connections in 2019-20 in its areas of operation," the company said in a statement.

Addressing the shareholders, Gupta said that driven by higher volumes, the net profit of IGL rose 44 per cent in 2019-20 to Rs 1,137 crores.

During 2019-20, total sales volume grew 9 per cent over the previous year with CNG recording 8.4 per cent growth in volumes and PNG recording volume growth of 12 per cent.

The consolidated profit after tax (PAT) of IGL after considering the contribution of the associate companies, namely Central UP Gas Ltd (CUGL) and Maharashtra Natural Gas Ltd (MNGL), was Rs 1,249 crores in 2019-20.