Millennium Post

Indraprastha Gas Ltd FY13 net profit increases 16% to Rs354 cr

Indraprastha Gas Ltd FY13 net profit increases 16% to Rs354 cr
OUR correspondent
New Delhi : Indraprastha Gas Limited (IGL) the sole supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida & Ghaziabad on Thursday announced impressive financial results for 2012-13.
The company reported a gross turnover  increase of Rs. 3,724 crores in FY13 from Rs. 2,790 crores in FY12, thereby showing a growth of 33 %. The net profit in FY13 increased to 16% going up from Rs 306 crores in FY12 to Rs. 354 crores. During 2012 - 13, total sales volume grew by 10% over the previous year. The average daily gas sale during the year has also gone up to 3.66 mmscmd from 3.33 mmscmd in the previous year.
Following the results, the board has recommended a dividend of 55% for the financial year 2012-13 for consideration of the members in annual general meeting.
 In Q4 of 2012-13, the company’s net profit for the quarter increased from Rs. 80 crore in corresponding period last year to Rs 84 crore in FY13. During this period, IGL registered a turnover of Rs. 974 crore as compared to Rs. 798 crore in the corresponding period last year thereby registering a sales value growth of 22% in financial terms. There has been an overall sales volume growth of 5% over the corresponding quarter in the last fiscal.
IGL has already embarked on a massive expansion programme in NCT of Delhi as well as NCR.
IGL has 287 CNG stations currently operational in Delhi, Noida, Greater Noida and Ghaziabad. It supplies PNG to nearly 3,90,000 households in Delhi and NCR towns. The role of IGL in checking the vehicular pollution in Delhi is well acknowledged both at national as well as international forums. IGL has well laid out its city gas distribution infrastructure in Delhi, Noida, Greater Noida and Ghaziabad which consists of over 8400 Kms of pipeline network. IGL is meeting fuel requirements of over 6.5 lakh vehicles running on CNG in NCR.     

Agencies

Agencies

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