IGL reports 9% sales growth in Q2 FY25

29 Oct 2024 CW Team

Indraprastha Gas Limited (IGL), India’s largest CNG distribution company, announced a 9% increase in overall sales volume for the second quarter of FY25, with average daily sales rising from 8.30 to 9.03 million metric standard cubic meters per day. The company’s Board approved an interim dividend at a rate of 275%, equivalent to Rs 5.50 per share. According to unaudited results for the quarter ending September 2024, both the CNG and PNG segments saw a 9% increase in sales volumes compared to the same period last year. Specifically, the domestic PNG segment recorded a 12% rise in sales, while the industrial and commercial PNG segment grew by 11% over the same quarter in FY24.

The total gross sales value for the quarter rose to Rs 40.69 billion, marking a 7% increase from Rs 3,804.35 crore in the first quarter of FY25. Profit after tax (PAT) for Q2 FY25 increased sequentially by 7.4% to reach Rs 431.09 crore, compared to Rs 4.01 billion in Q1 FY25. However, PAT declined in comparison to Rs 534.81 crore in Q2 FY24, primarily due to a significant rise in input gas costs. IGL clarified that these results reflect its standalone performance and do not include profits from associate companies.

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