Indraprastha Gas (IGL) announced that its board has approved appointment of Rakesh Kumar Jain, replacing Sukhmal Kumar Jain as chairman of the company with effect from 14 January 2023.
Presently, Rakesh Kumar Jain is a director on the board of the company. Rakesh Jain, a nominee of GAIL is director (finance) of GAIL. He is a cost and management accountant by profession. Besides serving a long tenure at GAIL, he was on deputation to Petroleum and Natural Gas Regulatory Board (PNGRB), as joint director (commercial and finance).Further, Sukhmal Kumar Jain ceased to be the chairman of the company effective from 14 January 2022 but continue to be a director of IGL.
Indraprastha Gas is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.
The company reported 4% rise in consolidated net profit to Rs 416.15 crore on a 94% jump in net revenue from operations to Rs 3,554.01 crore in Q2 FY23 over Q2 FY22.
The scrip closed 0.50% lower at Rs 416.50 on Friday, 13 January 2023.
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