Indraprastha Gas Ltd

India cuts back cheap gas for vehicles even as bad air chokes Delhi

New Delhi, one of world's most polluted cities, was pushed into CNG well over 2 decades ago after a Supreme Court ruling that demanded conversion of all public buses to cope with worsening air quality

CNG retailers want price hike, government wants to see cost breakup

City gas companies like Indraprastha Gas Ltd and Adani Total Gas Ltd are mulling an increase in CNG prices after supplies of cheaper input gas was cut for the second time in a month, but the government officials say the retailers must give a cost breakup to justify the hike. The government, with effect from November 16, cut supplies of low-priced natural gas coming from old fields to city gas retailers by up to 20 per cent. This reduction came on the back of a 21 per cent reduction on October 16. City gas retailers IGL, which retails CNG in national capital and adjoining cities, Mahanagar Gas Ltd that does the same in Mumbai, and Adani Total Gas Ltd which operates in Gujarat and elsewhere, in regulatory filings flagged profitability concerns due to supply cut and hinted at price hike. Officials in the ministry of petroleum and natural gas however are unimpressed as they feel the retailers operate on "hefty" margins and can easily absorb the additional cost they may have to incur on

IGL, MGL, Guj Gas likely to outperform OMCs; Charts show up to 17% upside

Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.

IGL Q4 results: Net profit rises 16% to Rs 382.8 crore, revenue falls 2.25%

Total gas sale volumes rose 4 per cent to 3,084.5 million standard cubic metres

IGL Q4 result: Net profit up 16% at Rs 382 cr, turnover dips to Rs 3,949 cr

Indraprastha Gas Ltd, India's largest CNG retailer, on Tuesday reported a 16 per cent rise in March quarter net profit as it sold more gas. The net profit of Rs 382.80 crore in the latest January-March quarter was compared to Rs 329.75 crore profit registered a year ago, the company said in a statement. For the full 2023-24 fiscal (April 2023 to March 2024), net profit soared 21 per cent to Rs 1,748.08 crore as against Rs 1,445.02 crore in the previous year. Turnover slipped marginally to Rs 3,949.17 crore in January-March from Rs 4,042.57 crore in the corresponding quarter of 2022-23. The gross turnover during the financial year 2023-24 was Rs 15,403.13 crore as compared to Rs 15,543.67 crore in the preceding financial year 2022-23 primarily due to cooling off of international gas prices despite increase in sales volume. "The sales volume in the quarter increased from 8.25 million standard cubic metres per day in Q4 of 2022-23 to 8.73 mmscmd in Q4 of FY'24, showing a volume growt

IGL Q3 results: Net profit jumps 41% on higher CNG, piped gas sales

Indraprastha Gas Ltd, India's leading CNG retailer, has reported a 41 per cent jump in third quarter net profit, as the firm recorded higher sales of CNG to automobiles and piped cooking gas to households and industries. The company clocked a net profit of Rs 392.07 crore in October-December - the third quarter of current fiscal that started in April 2023 - compared to Rs 278.26 crore in the same period in the previous year, it said in a statement. IGL operates city gas distribution (CGD) networks across 30 districts in 11 geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan. The company said it "registered an overall sales volume growth of 4 per cent over the corresponding quarter in the last fiscal, with the average daily sales going up to 8.48 million standard cubic meters per day from 8.12 mmscmd." "Product wise, CNG recorded sales volume growth of 4 per cent in the quarter, while piped natural gas (PNG) recorded sales volume growth of 5 per cent

IGL Q3 results: Net profit rises 41% to Rs 392 crore, revenue falls 4%

On a sequential basis, however, the compressed natural gas (CNG) distribution company's net profit fell 26.6 per cent from Rs 534.8 crore registered in Q2 FY24

CNG price hiked by Rs 1 per kg in Delhi-NCR from today: Check new rates

The price of compressed natural gas (CNG) has been increased to Rs 76.59 per kg in Delhi-NCR; the new price of CNG in Noida is now at Rs 82.20 per kg, and Rs 81.20 per kg in Greater Noida

IndusInd Bank to allow CNG bill payments through CBDC in Delhi-NCR

The users will also be allowed to scan any UPI QR using their digital Rupee app across all IGL stations in the region

Indraprastha Gas Ltd Q2FY24 result: Net profit at Rs 552 cr; income down 2%

The company announced an interim dividend of Rs 4 per share

IGL stock slips on Delhi's EV policy, Jefferies, Morgan Stanley downgrade

The slump in the gas distributor's stock rubbed off on peers Mahanagar Gas and Gujarat Gas, while EV-maker Olectra Greentech advanced

Indraprastha Gas net rises 4% in Sept quarter as gas prices hurt margins

Indraprastha Gas Ltd, which retails CNG and piped cooking gas in the national capital and adjoining cities, reported a 4 per cent rise in its September quarter net profit as rise in input natural gas prices hurt margins. The net profit stood at Rs 416.15 crore in July-September compared with Rs 400.54 crore in the same period a year back, the company said in a statement. Revenue almost doubled to Rs 3,922.02 crore in the second quarter of fiscal year starting April 1 against Rs 2,015.99 crore revenue in the year ago period. Gas prices have doubled since Russia invaded Ukraine. IGL's expense on purchase of natural gas soared from Rs 929.97 crore in July-September 2021 to Rs 2,610.03 crore in the current year. The firm registered an overall sales volume growth of 12 per cent over the corresponding quarter in the last fiscal, with the average daily sale going up from 7.24 million standard cubic metres per day (mmscmd) to 8.09 mmscmd. Product wise, CNG recorded sales volume growth of

Indraprastha Gas Ltd Q1 net profit up 72% on rise in sales volume

Net profit of Rs 420.86 crore in April-June compared with Rs 244.29 crore in the corresponding quarter of last fiscal, the company said in a statement.

IGL to invest Rs 8,000 cr in five years to expand CNG gas network: CEO

Indraprastha Gas Ltd, the nation's largest CNG retailer, will invest about Rs 8,000 crore in the next five years to expand the city gas network of CNG stations and pipelines

CNG price hiked by Rs 2.50 per kg for 2nd day; total increase at Rs 12.50

CNG prices in the national capital on Thursday were hiked for the second day in a row by Rs 2.50 per kilogram, taking the total increase since March to Rs 12.5 per kg. CNG in the National Capital Territory (NCT) of Delhi now costs Rs 69.11 per kg, up from Rs 66.61 per kg, according to the information posted on the website of Indraprastha Gas Ltd (IGL) - the firm which retails CNG and piped cooking gas in the national capital and adjoining cities. Rates had gone up by Rs 2.50 per kg on Wednesday as well. However, there was no change in the rates of Piped Cooking Gas (PNG). It continues to cost Rs 41.61 per standard cubic meter. CNG prices in Delhi have increased by Rs 12.48 per kg since March when city gas distributors started factoring in high international energy prices. On Thursday, Mahanagar Gas Limited (MGL) raised Compressed Natural Gas (CNG) price by Rs 7 per kg to Rs 67 per kg in Mumbai while Gujarat Gas hiked rates by Rs 6.50 per kg to Rs 76.98 per kg. Prices vary from ci

Indraprastha Gas Lt net profit drops 8.4% in September quarter

Indraprastha Gas Ltd on Wednesday reported an 8.4 per cent drop in September quarter net profit as sales volumes got impacted amid graded relaxation in lockdown restrictions.

IGL to foray into electric vehicle charging in tie-up with Mahindra Powerol

According to A K Jana, managing director, IGL, the company through this tie-up would be scaling up to 100 EV charging stations within a year

IGL to facilitate conversion of diesel generators to natural gas gensets

Indraprastha Gas Ltd on Friday said it will help housing societies as well as commercial establishments to replace diesel in generators to environment-friendly natural gas.

War on Covid-19: IGL follows lockdown rule book, pares CNG supply in NCR

Just over a third of the 150 stations run by the company will be operational during lock down toll March 31

IGL looks beyond NCR to give a boost to revenue, bags six other areas

According to E S Ranganathan, MD of IGL, it is the price of gas and not the end of exclusivity that is the challenge.