New Delhi: Indraprastha Gas Ltd, the sole supplier of CNG and piped cooking gas in the national capital, Wednesday reported 11 percent drop in the June quarter net profit on lower realisation from industrial and commercial users.
Its net profit in the April-June period fell to Rs 101.84 crore, as against Rs 114.03 crore a year ago "due to lower realisation in industrial and commercial segment of piped natural gas", the company said in a statement here.
IGL posted 4 percent rise in turnover to Rs 992 crore in the first quarter of the current fiscal, from Rs 957 crore in the year-ago period.
"There has been an overall sales volume growth of 2 percent over the corresponding quarter in the last fiscal with average daily sale increasing from 3.75 million standard cubic meters per day to 3.83 mmscmd," it said.
Product wise, CNG recorded sales volume growth of 4 percent, while PNG sales volume declined by an equal proportion in the quarter as compared to last year due to decrease in the prices of alternate fuels available for industrial and commercial consumers.
IGL owns around 10,000 km of pipeline network in Delhi, Noida, Ghaizabad and Greater Noida. It sells fuels to over 8 lakh vehicles in the NCR through a network of over 300 CNG stations.
It also supplies piped gas to over 5.85 lakh households in Delhi and NCR towns.
"A record number of over one lakh domestic PNG connections were provided by IGL in 2014-15," the statement added.
