Indraprastha Gas Limited (IGL) the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi and NCR towns of Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Muzaffarnagar, Karnal, Kaithal and Kanpur on Wednesday announced its financial results for the third quarter of FY’21, as the numbers showed strong resurgence from the impact of lockdown in the first half of the fiscal.
As per the unaudited Q3 results announced by the company for the quarter ending December 2020, IGL registered average daily sale of 6.26 mmscmd in the quarter as most of the lockdown restrictions started getting relaxed except reopening of educational institutions. The total gross sales value during the quarter was Rs 1587.36 crore against Rs 1831.16 crore during the third quarter of FY’20.
The net profit for the quarter ending December 2020 has increased by 18% to Rs 334.87 crore in FY’21 as compared to Rs. 283.59 crore in corresponding period in the last fiscal. These are standalone results for IGL only and do not include profits accruing from associate companies.
Both physical and financial performance of the company reflect a strong recovery after the second quarter due to gradual easing of restrictions and beginning of unlock period leading to increased economic activity. Sales have picked up steadily and presently have touched pre-lockdown levels.
