Indraprastha Gas registers 28% rise in Q3 profit
February 10, 2021 Indraprastha Gas Limited (IGL) has posted a consolidated net profit of ₹381.83 crore for the December quarter, rising 28 per cent on year-on-year basis.
The firm, which supplies CNG in Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Muzaffarnagar, Karnal, Kaithal and Kanpur, registered an average daily sale of 6.26 mmscmd in the quarter as most of the lockdown restrictions started getting relaxed. The total gross sales value during the quarter was ₹1,587.36 crore against ₹1,831.16 crore during the corresponding period of the previous fiscal year, the company said in a statement.
“Both physical and financial performances of the company reflect a strong recovery after the second quarter due to gradual easing of restrictions and beginning of unlock period leading to increased economic activity,” IGL said in a statement. “Sales have picked up steadily and presently have touched pre-lockdown l
USD 269.7 billion By 2027 according to a new study conducted by
Polaris Market Research. the market is anticipated to register a CAGR of 12.8% from 2020 to 2027. Increasing environmental concerns, rising diesel and gasoline prices, and growing demand for CNG as a substitute for other fuels are some of the promising factors that fueling demand for the global CNG market. Rising investment in infrastructure to expand the penetration of compressed natural gas as a vehicle fuel is also projected to propel the market growth. Additionally, stringent government regulations to support the pollution control initiatives coupled with a rise in the use of CNG in major metropolitan cities further support the substantial growth of the market.
IGL connects all industrial units in Delhi with PNG
Posted On: 2021-02-04 04:57:39 (Time Zone: Arizona, USA)
In a major boost to the green drive in the National Capital, all Industrial Units in Delhi using polluting fuels have been connected with the green fuel of Piped Natural Gas (PNG) by Indraprastha Gas Limited (IGL).
Consequent upon the directions issued by Delhi Pollution Control Committee (DPCC) in 2018, IGL proactively took various initiatives to facilitate smooth transition of Industrial units on to PNG. As per DPCC, the NCT of Delhi is having a total of 1,644 polluting industrial units spread across 50 industrial areas in Delhi. Out of these units, 1,607 no. of units were subsequently found convertible to PNG as few of them had shut down their operations. Thereafter, IGL has successfully connected all these units with the eco-friendly PNG fuel before 31st January 2021.
Delhi: PNG fuel to be made available in all identified industrial units ANI | Updated: Feb 03, 2021 19:45 IST
New Delhi [India], February 3 (ANI): The Ministry of Environment, Forest, and Climate Change on Wednesday informed that Piped Natural Gas (PNG) fuel will be made available in all identified industrial units. The newly formed Commission for Air Quality Management in National Capital Region (NCR) and its adjoining areas took upon the switching over the industrial units in Delhi to cleaner fuels as one of the priority action items, reads the ministry s release.
In this pursuit, 1627 industrial units spread across 50 industrial areas in Delhi were identified to switch over to Piped Natural Gas (PNG). Periodic follow-up was conducted with M/s GAIL, Indraprastha Gas Limited (IGL), and the Government of NCT of Delhi.