Indraprastha Gas to invest in G'bad

With a view to further expand its gas distribution network, Indraprastha Gas has decided to invest Rs 29.7 cr in Ghaziabad.

With a view to further expand its gas distribution network, Indraprastha Gas Ltd has decided to invest Rs 29.7 crore in Ghaziabad.

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Indraprastha Gas, which supplies compressed natural gas (CNG) and piped natural gas (PNG) in the Capital, informed the Stock Exchanges that the investment proposal had been sanctioned by its board at a recently held meeting.

The company has clocked a 32.5 per cent increase in net profit for the third quarter this fiscal at Rs 29.32 crore as against Rs 22.13 crore during the corresponding quarter last fiscal.