Indraprastha Gas Ltd quarterly net profit rises by 6% | business | Hindustan Times
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Indraprastha Gas Ltd quarterly net profit rises by 6%

Indraprastha Gas Limited (IGL) on Saturday recorded a 6% increase in net profit at Rs 85 crore for the quarter which ended June 30 against Rs 80 crore during the same period of the previous financial year in 2011.

business Updated: Jul 28, 2012 20:48 IST

Indraprastha Gas Limited (IGL) on Saturday recorded a 6% increase in net profit at Rs 85 crore for the quarter which ended June 30 against Rs 80 crore during the same period of the previous financial year in 2011.

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.