Indraprastha Gas Ltd (IGL), the sole supplier of CNG and PNG in Delhi, Noida, Greater Noida and Ghaziabad, recorded an impressive growth of 33 per cent in gross turnover and 16 per cent in profit after tax (PAT) in 2012-13 over the previous financial year. Its gross turnover increased to Rs 3,724 crore in financial year 2012-13 compared to Rs 2,790 crore in financial year 2011-1212 and PAT increased to Rs 354 crore in FY13 from Rs 306 crore during FY12. The shareholders approved a dividend of 55 per cent to the shareowners as recommended by the Board of Directors.
Addressing the IGL shareholders at the company’s 14th annual general meeting (AGM) in New Delhi, Chairman K K Gupta announced that IGL is exploring strategic business opportunities to mark its presence in other cities of the country and strengthen its growth opportunities. He disclosed that it has recently acquired a 50 per cent stake in Central UP Gas Ltd (CUGL), a company engaged in the city gas distribution business in Kanpur and Bareilly, Uttar Pradesh.
In his speech to the shareholders, Gupta also gave an insight into the gas scenario, specifically issues related to the potential of city gas distribution in the country. He added that the assured supply of natural gas at an affordable price would play a crucial role in the growth of the country’s city gas distribution sector. IGL, being a pioneer in the city gas distribution business, is fully prepared to meet the future challenges and seize the emerging opportunities in this sector, Gupta assured.
Dwelling on the company’s future growth plans in changing business dynamics, he informed that it has taken various initiatives to achieve optimum utilisation of resources and improve operational efficiencies.
Highlighting IGL’s customer-focused initiatives, Gupta informed that during fiscal 2012-13 a major information technology initiative was taken to improve customer services by upgrading the customer portal with enhanced features. He added that the company would continuously endeavour to improve its processes and systems to provide services to the satisfaction of its customers.
Addressing the IGL shareholders at the company’s 14th annual general meeting (AGM) in New Delhi, Chairman K K Gupta announced that IGL is exploring strategic business opportunities to mark its presence in other cities of the country and strengthen its growth opportunities. He disclosed that it has recently acquired a 50 per cent stake in Central UP Gas Ltd (CUGL), a company engaged in the city gas distribution business in Kanpur and Bareilly, Uttar Pradesh.
In his speech to the shareholders, Gupta also gave an insight into the gas scenario, specifically issues related to the potential of city gas distribution in the country. He added that the assured supply of natural gas at an affordable price would play a crucial role in the growth of the country’s city gas distribution sector. IGL, being a pioneer in the city gas distribution business, is fully prepared to meet the future challenges and seize the emerging opportunities in this sector, Gupta assured.
Dwelling on the company’s future growth plans in changing business dynamics, he informed that it has taken various initiatives to achieve optimum utilisation of resources and improve operational efficiencies.
Highlighting IGL’s customer-focused initiatives, Gupta informed that during fiscal 2012-13 a major information technology initiative was taken to improve customer services by upgrading the customer portal with enhanced features. He added that the company would continuously endeavour to improve its processes and systems to provide services to the satisfaction of its customers.