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Indraprastha Gas hikes CNG prices by 17 per cent

06 Jun 2011 Evaluate

After a steep rise in petrol prices last month, Indraprastha Gas (IGL), a joint venture of GAIL (India), Bharat Petroleum Corporation and Delhi government, the monopoly seller in the country, has now announced 17 per cent increase in CNG rate i.e. 50-55 paise a kilogram. The company has hiked the consumer price by 50 paise in Delhi at Rs 29.8 a kg and by 55 paise at Rs 33.4 a kg in Noida, Greater Noida and Ghaziabad, which would be effective from June 5.

However, the company has reportedly said that the hike in price of CNG would have marginal impact on the running cost of CNG vehicles. Meanwhile, despite the increase, CNG would still offer 66% savings towards the running cost when compared to petrol driven vehicles at the current level of prices.

The company’s net profit after tax for the fourth quarter surged by 34.38% at Rs 69.16 crore as compared to Rs 51.49 crore for the corresponding quarter last year. Its total income has increased by 75.05% at Rs 511.59 crore for the quarter under review from Rs 292.26 crore in the corresponding previous quarter. Meanwhile, the company has registered marginal growth of 20.55% in its net profit after tax for FY11 at Rs 259.77 crore as compared to Rs 215.49 crore for FY10. Its total income has increased by 59.53% at Rs 1753.55 crore for the year from Rs 1099.22 crore in previous year.

Indraprastha Gas Share Price

164.55 -1.00 (-0.60%)
24-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
GAIL India 165.60
Gujarat Gas 383.05
Indraprastha Gas 164.55
Mahanagar Gas 1129.20
Adani Total Gas 627.00
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