By IANS,
Mumbai : Indraprastha Gas Ltd (IGL) Wednesday posted an increase of 16.5 percent in net profit at Rs.77.23 crore for the quarter ended Sep 30 against Rs.66.29 crore during the like period of the previous financial year.
Total sales stood at Rs.663.2 crore during the quarter, up 32.3 percent against the like period of 2010-11, the company said in a regulatory filing.
IGL is the sole supplier of compressed natural and cooking gas used for transportation and by households in Delhi and the National Capital Region.
Earlier this month, IGL had raised the price of compressed natural gas by over Rs.2 per kg.
According to the firm it was forced to increase the price as the continuous fall in the rupee had raised the cost of importing gas. A fall in domestic production, primarily from the Krishna Godavari D6 basin had resulted in increased imports.
At the Bombay Stock Exchange the shares of the company were 0.30 percent up to trade at Rs.396.70.