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Business EconomyPosted at: May 13 2016 7:41PM


IGL profit up by 12 pc, declares 60 pc dividend

New Delhi, May 13 (UNI) Indraprastha Gas Limited (IGL) the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the National Capital Territory of Delhi, Noida, Greater Noida and Ghaziabad has earned a net profit of 107.64 crore in Q4 of the financial year 2015-16.
The board has recommended a dividend of 60 per cent for consideration of the members in Annual General Meeting.
In a statement here today, IGL has said, “In Q4 of 2015-16, the company’s net profit for the quarter increased from Rs 95.88 crore in corresponding period last year to Rs 107.64 crore in FY’16 showing an increase of 12 per cent.”
During this period, IGL registered a turnover of Rs 976 crore as compared to Rs 1007 crore in the corresponding period last year. However, there has been an overall sales volume growth of 8 per cent over the corresponding quarter in the last fiscal, with CNG sales volume growing by 5 per cent and PNG sales volume growing by 9 per cent.
The company’s gross turnover has grown to Rs 4052 crore in FY 16 from Rs 4048 crore in FY 15. However, the net profit in FY 16 showed a decline of 5 per cent from Rs 437.73 crore in FY 15 to Rs 416.2 crore in FY 16 due to lower realisations and overall increase in cost. During 2015-16, total sales volume grew by 4 per cent over the previous year with both CNG as well as PNG segments recording 4 per cent volume growth.
After consolidating the financial results of two associate companies, CUGL & MNGL, the consolidated net profit after tax of the company comes to Rs 464.13 crore against consolidated profit of Rs 448.13 crore in the previous year.
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