Indraprastha Gas Ltd, the firm that retails CNG and piped cooking gas in the national capital, on Tuesday reported a 72 per cent rise in the June quarter net profit on the back of a rise in sales volume.
Net profit of Rs 420.86 crore in April-June compared with Rs 244.29 crore in the corresponding quarter of last fiscal, the company said in a statement.
“IGL registered an overall sales volume growth of 48 per cent over the corresponding quarter in the last fiscal, with the average daily sale going up from 5.32 million standard cubic meters to 7.89 mmscmd,” it said.
Product-wise, CNG recorded sales volume growth of 63 per cent, while piped natural gas recorded sales volume growth of 17 per cent in the quarter.
Accordingly, the total gross sales value during the quarter has moved to Rs 3,519 crore compared to Rs 1,372 crore, showing a growth of 157 per cent. PTI ANZ MR
To stay updated with the Latest Stock Market news, download our app here !
For editorial purposes, contact firstname.lastname@example.org
Start Your Financial Learning Journey
Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to Register today to Start your 3-Day FREE Trail . And do not miss out on the Introductory Offer!!