Indraprastha Gas Ltd (IGL), India’s largest city gas distributor, reported a 93.5% drop in standalone net profit for the July-September quarter as higher natural gas procurement costs further shrank margins even as sales volumes hit all-time highs.
IGL reported a net profit of Rs 24.38 crore for the second quarter of 2026-27 compared to Rs 372.51 crore during the corresponding quarter of the previous fiscal year, its results said Friday.
It continued its downward spiral despite an 8% increase in sales volumes and an increase of 26% in gross sales turnover to Rs 5,999.13 crore from Rs 4,431.63 crore a year ago.
IGL’s daily average gas sales exceeded 10m standard cubic metre per day for the first time at 10.06m standard cubic metre in the quarter versus 9.31m standard cubic metre in the same period of the previous year.
Volume sales of compressed natural gas (CNG) went up by 9% and Piped Natural Gas (PNG) sales grew 8%.
The results reflect the strains faced by city gas distributors as they grapple with rising input prices, which erode any benefits from rising demand and sales volume.
IGL has gas distribution networks in 34 districts in Delhi, Uttar Pradesh, Rajasthan and Haryana.
