State-run Indraprastha Gas (IGL) on Monday reported an almost 18 per cent decline y-o-y in its consolidated net profit at ₹454 crore in Q2 FY25 on account of higher cost of procuring natural gas.
The net profit of India’s largest compressed natural gas (CNG) distributor fell by 5 per cent on a sequential basis.
IGL posted a consolidated total income of ₹4,171 crore in Q2 FY25, compared to ₹3,694 crore in Q1 FY25 and ₹3,884 crore in Q2 FY24.
Its consolidated total expenses stood at ₹3,674 crore in Q2 FY25 compared to ₹3,428 crore in Q1 FY25 and ₹3,270 crore in Q2 FY24.
The Board has declared an interim dividend at the rate of 275 per cent, or ₹5.50 per share, IGL said.
IGL registered an overall sales volume growth of 9 per cent y-o-y with the average daily sale going up to 9.03 million standard cubic meters per day (MSCMD) in Q2 FY25 from 8.30 MSCMD.
Product wise, both CNG and piped natural gas (PNG) recorded sales volume growth of 9 per cent y-o-y in the second quarter of the current financial year.
Within PNG, while domestic PNG recorded sales volume growth of 12 per cent Y-o-Y in Q2 FY25, the sales volume in Industrial and Commercial sector grew by 11 per cent y-o-y.
“Accordingly, the total gross sales value during the quarter has moved to ₹4,069.83 crore as compared to ₹3,804.35 crore during the first quarter of FY25, thereby showing a growth of 7 per cent,” IGL said.
IGL operates City Gas Distribution (CGD) networks across 32 districts in eleven geographical areas (GAs) across the States of Delhi, Uttar Pradesh, Haryana and Rajasthan.