IGL declares interim dividend of Rs 4 per share
New Delhi :-
Indraprastha Gas Limited (IGL), the largest CNG distribution company of the country, operating city gas distribution (CGD) networks across 30 districts in eleven geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan today declared interim dividend of Rs 4 per share while announcing its financial results for the second quarter of FY’24.
As per unaudited Q2 results announced by the company for quarter ending September 2023, IGL registered an overall sales volume growth of 3% over the corresponding quarter in the last fiscal, with the average daily sale going up to 8.30 mmscmd from 8.09 mmscmd. Product wise, both CNG & PNG recorded sales volume growth of 3 % in the quarter as compared to corresponding quarter last year. Accordingly, the total sales value during the quarter has moved to Rs 3804.35 crore as compared to Rs 3908.48 crore during the second quarter of FY’23, due to slight cooling off of international gas prices.
The net profit for the quarter ending September 2023 has increased by 29% to Rs 534.81 crore from Rs 438.40 crore in the corresponding quarter in the last fiscal. These are standalone results for IGL only and do not include profits accruing from associate companies.
About IGL – IGL is currently celebrating 25th year of its incorporation. The role of IGL in checking the vehicular pollution in the National Capital Region is well acknowledged at both National as well as International forums. IGL has well laid out its city gas distribution infrastructure in Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Karnal, Kaithal Fatehpur, Ajmer, Pal, Rajsamand, Hamirpur, Shamli, Muzaffarnagar, Banda and parts of Kanpur and Meerut, which consists of more than 23,000 Kms of pipeline network. IGL is meeting fuel requirements of over 1.6 million vehicles running on CNG through a network of 795 CNG stations. IGL has connected over two million households in these cities with PNG.