State-run Indraprastha Gas Ltd (IGL) on Wednesday reported an 18 per cent drop in its consolidated net profit to around ₹480 crore during the April-June period in the current financial year.
However, the net profit of India’s largest compressed natural gas (CNG) distributor rose by 11 per cent on a sequential basis.
IGL’s consolidated total income stood at ₹3,964 crore in Q1 FY25, compared to ₹4,044 crore in Q4 FY24 and ₹3,808 crore in Q1 FY24.
- Also read: IGL net profit up 9% at ₹433 crore in Q4
Its total expenses during the quarter under review stood at ₹3,428 crore, compared to ₹3,557 crore in Q4 FY24 and ₹3,221 crore in Q1 FY24.
IGL registered an overall sales volume growth of 5.3 per cent y-o-y, with the average daily sale increasing from 8.20 million standard cubic meters per day (MSCMD) to 8.64 MSCMD, the company said.
Product-wise, CNG recorded a sales volume growth of 4.6 per cent y-o-y, while PNG recorded a sales volume growth of 7.4 per cent y-o-y. Accordingly, the total gross sales value during the quarter has moved to ₹3,877.12 crore compared to ₹3,742.31 crore in Q1 FY24, registering a growth of 3.6 per cent.
The company operates city gas distribution (CGD) networks across 30 districts in 11 geographical areas within the states of Delhi, Uttar Pradesh, Haryana, and Rajasthan.