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Indraprastha Gas net profit up by 11pct in Q2 2018

Gasoil News - Published on Thu, 08 Nov 2018

Image Source: ebillpayment.net
City gas distribution company Indraprastha Gas Ltd (IGL) posted a 11 per cent jump in net profit for the quarter ended September 2018 on higher volumes and other income during the period. The company posted a net profit of Rs 187 crore during the quarter as against INR 168 crore recorded in the corresponding quarter last financial year 2017-18. “During Q2 of FY19, CNG sales volume has increased by 13 per cent and PNG sales volumes increased by 14 per cent over Q2 of FY18. On an overall basis, there is 13 per cent increase in sales volume during this quarter over corresponding quarter of FY18,” the company said in a statement.

Total income of the company also rose 27 per cent to Rs 1,601 crore during the September quarter from Rs 1,256 crore recorded in the same period in the last fiscal year. The company informed its total expenses during the three months ended September 2018 jumped 32 per cent to Rs 1,311 crore, mainly owing to higher cost of natural gas. Expenses on account of gas purchase rose to 842 crore during the quarter as compared to Rs 593 crore in the same quarter last financial year.

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Posted By : Joykumar Irom on Thu, 08 Nov 2018
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