Earnings Summary Of Indraprastha Gas Limited For Q3 FY23

Indraprastha Gas Limited (NSE: IGL) is engaged in the distribution of natural gas in the National Capital Territory of Delhi and adjoining areas. The company is responsible for the supply of piped natural gas (PNG) to domestic households, commercial establishments, and compressed natural gas (CNG) to automobiles. IGL also provides gas distribution services to industries, such as ceramics, glass, steel, and automobiles, among others.

The company has a strong distribution network with over 13,000 km of pipelines, which cover the National Capital Territory of Delhi and the adjoining areas of Noida, Greater Noida, and Ghaziabad. IGL has also set up CNG stations at various locations to cater to the needs of the automobile industry. For the quarter ending December 31, 2021, IGL reported a net profit of ₹334.06 crores, which is a YoY decline of 11%. The company’s Revenue from operations for the quarter was ₹4,089.03 crores, which is a YoY growth of 68%. The increase in revenue was due to higher sales volumes of CNG and PNG-Domestics.

The company’s CNG sales volumes for the quarter grew by 8% YoY, while PNG-Domestic sales volumes grew by 13% YoY. However, the PNG-Industrial/Commercial sales volume decreased by 4% and the Natural Gas remained flat in the same period.