Indraprastha Gas Q3 results: Net profit rises 18% to Rs 335 cr

NEW DELHI: on Wednesday reported a 18 per cent rise in December quarter internet revenue after metropolis gasoline gross sales recovered after easing of coronavirus lockdown restrictions.

Standalone internet revenue in October-December at Rs 334.87 crore in contrast with Rs 283.59 crore within the corresponding interval of the final fiscal, the corporate mentioned in a press release.

IGL retails compressed pure gasoline (CNG) to vehicles and piped pure gasoline (PNG) for cooking functions for family and as gas to industries within the nationwide capital and adjoining cities corresponding to Noida, Better Noida and Ghaziabad.

“Each bodily and monetary efficiency of the corporate replicate a powerful restoration after the second quarter because of gradual easing of restrictions and starting of unlock interval resulting in elevated financial exercise. Gross sales have picked up steadily and presently have touched pre-lockdown ranges,” it mentioned.

“The numbers confirmed sturdy resurgence from the influence of lockdown within the first half of the fiscal,” the corporate added.

IGL bought 6.26 million normal cubic metres per day of gasoline in the course of the quarter as a lot of the lockdown restrictions began getting relaxed besides reopening of instructional establishments.

Complete product sales have been decrease at Rs 1,587.36 crore towards Rs 1,831.16 crore in the course of the third quarter of FY’20.

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