Indraprastha Gas rises 3% on reporting 31% yoy jump in Q1FY20 PAT

The total income rose 22.84% yoy to Rs1,779.47cr in Q1FY20.

Aug 16, 2019 05:08 IST India Infoline News Service

Shares of Indraprastha Gas Ltd. (IGL) are currently up 3% after soaring 4% in early trade today.

On a consolidated basis, Indraprastha Gas reported a 31.14% yoy rise in net profit to Rs245.04cr. The total income rose 22.84% yoy to Rs1,779.47cr in Q1FY20.

Higher sales volume and better gross margin boosted performance in the quarter.

Productwise, CNG saw sales of Rs1,340cr, a growth of 25% yoy, while PNG saw sales of Rs398cr, a rise of 16% yoy.

Indraprastha Gas is a city gas distribution company (CGD) incorporated in 1998.

The company supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to the domestic, industrial and commercial sectors in Delhi and the NCR.

Indraprastha Gas Ltd is currently trading at Rs325.90 up by Rs9.45 or 2.99% from its previous closing of Rs316.45 on the BSE.

The scrip opened at Rs318.90 and has touched a high and low of Rs330 and Rs316 respectively. So far 37,64,683 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs22,151.53cr.

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