Indraprastha Gas Ltd

Indraprastha Gas Ltd, which retails CNG and piped cooking gas in the national capital and adjoining cities, reported a 4 per cent rise in its September quarter net profit as rise in input natural gas prices hurt margins. The net profit stood at Rs 416.15 crore in July-September compared with Rs 400.54 crore in the same period a year back, the company said in a statement. Revenue almost doubled to Rs 3,922.02 crore in the second quarter of fiscal year starting April 1 against Rs 2,015.99 crore revenue in the year ago period. Gas prices have doubled since Russia invaded Ukraine. IGL's expense on purchase of natural gas soared from Rs 929.97 crore in July-September 2021 to Rs 2,610.03 crore in the current year. The firm registered an overall sales volume growth of 12 per cent over the corresponding quarter in the last fiscal, with the average daily sale going up from 7.24 million standard cubic metres per day (mmscmd) to 8.09 mmscmd. Product wise, CNG recorded sales volume growth of

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.

Indraprastha Gas Ltd, the nation's largest CNG retailer, will invest about Rs 8,000 crore in the next five years to expand the city gas network of CNG stations and pipelines

CNG prices in the national capital on Thursday were hiked for the second day in a row by Rs 2.50 per kilogram, taking the total increase since March to Rs 12.5 per kg. CNG in the National Capital Territory (NCT) of Delhi now costs Rs 69.11 per kg, up from Rs 66.61 per kg, according to the information posted on the website of Indraprastha Gas Ltd (IGL) - the firm which retails CNG and piped cooking gas in the national capital and adjoining cities. Rates had gone up by Rs 2.50 per kg on Wednesday as well. However, there was no change in the rates of Piped Cooking Gas (PNG). It continues to cost Rs 41.61 per standard cubic meter. CNG prices in Delhi have increased by Rs 12.48 per kg since March when city gas distributors started factoring in high international energy prices. On Thursday, Mahanagar Gas Limited (MGL) raised Compressed Natural Gas (CNG) price by Rs 7 per kg to Rs 67 per kg in Mumbai while Gujarat Gas hiked rates by Rs 6.50 per kg to Rs 76.98 per kg. Prices vary from ci

Indraprastha Gas Ltd on Wednesday reported an 8.4 per cent drop in September quarter net profit as sales volumes got impacted amid graded relaxation in lockdown restrictions.

According to A K Jana, managing director, IGL, the company through this tie-up would be scaling up to 100 EV charging stations within a year

Indraprastha Gas Ltd on Friday said it will help housing societies as well as commercial establishments to replace diesel in generators to environment-friendly natural gas.

Just over a third of the 150 stations run by the company will be operational during lock down toll March 31

According to E S Ranganathan, MD of IGL, it is the price of gas and not the end of exclusivity that is the challenge.

IGL sells Compressed Natural Gas (CNG) to automobiles and Piped Natural Gas (PNG) to household kitchens and industries

It meets fuel requirements of over 105,000 vehicles running on CNG in national capital region through a network of over 500 CNG stations

The average daily sales went up from 5.26 million standard cubic metres per day to 5.91 mmscmd

The government's push for cleaner fuel is expected to see more CNG-run vehicles on the street

IGL seeks to expand beyond New Delhi and its suburbs