Indraprastha Gas quarterly net profit rises 6 percent
New Delhi, July 28 (IANS) Indraprastha Gas Limited (IGL) Saturday posted a six percent increase in net profit at Rs.85 crore for the quarter ended June 30 against Rs.80 crore during the like period of the previous financial year.
Total income stood at Rs.763.8 crore during the quarter under review against Rs.538.7 crore in the year-ago period.
"There has been a major increase in demand due to all round conversion of vehicles to CNG and increased acceptability of PNG as a domestic fuel," the company said in a statement.
IGL is currently on a fast track expansion of its infrastructure. It has 261 CNG stations currently in operation in Delhi, Noida, Greater Noida and Ghaziabad. IGL is supplying PNG to nearly 3,50,000 households in Delhi and the national capital region (NCR) towns.
The company is the sole supplier of compressed natural and cooking gas used for mass transport system and households in the capital.
At the Bombay Stock Exchange, shares of the company Friday closed at Rs.229.50.
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