Millennium Post

IGL declares Q3 results

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, announced its financial results for the third quarter of FY'17 late Wednesday evening.

As per the unaudited Q3 results announced by the company for the quarter ending December 2016, IGL registered an overall sales volume growth of 15 % over the corresponding quarter in the last fiscal, with the average daily sale going up from 4.01 mmscmd to 4.60 mmscmd. Product wise, CNG recorded sales volume growth of 11%, while PNG recorded sales volume growth of 20% in the quarter as compared to last year.

The total gross sales value during the quarter has moved to Rs 1043 crore as compared to Rs 1021 crore during the third quarter of FY'16. The increase in sales turnover during the quarter has been marginal due to reduction in selling prices of both CNG and PNG during the year in view of lower gas cost.
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