IGL Net Profit Plummets 48% on Volatile LNG Prices

Indraprastha Gas Ltd (IGL) reported a significant decline in net profit for the quarter ended June, impacted by 'high and volatile' liquefied natural gas (LNG) prices. The company's net profit stood at ₹186.18 crore, representing a nearly 48% year-on-year decline. This drop in profit was despite a 6% growth in sales.

IGL's revenues expanded 16% to ₹5,027.87 crore in the June-end quarter. Overall daily sales grew to 9.66 MMSCMD (million standard cubic meters per day) compared to 9.13 MMSCMD in the previous year. CNG sales increased by 6%, while PNG sales grew 5% YoY.