IGL Share Price in Focus: Announced 31% Increase in Domestic Gas Allocations

On January 9, 2025, Indraprastha Gas Ltd (IGL) through an exchange filing announced that its domestic gas allocations will be increased by 31%, which will effective from January 16, 2025. The communication, received from GAIL (India) Ltd, the nodal agency for domestic gas allocation, confirmed the revision. This increase will raise the share of domestic gas in the CNG segment from 37% to 51%.

IGL Secures Additional RLNG Volumes

In addition to the increase in domestic gas allocations, IGL has also secured additional Regasified Liquefied Natural Gas (RLNG) volumes on a term basis from one of its major suppliers. The company mentioned that it had negotiated competitive prices for approximately 1.0 MMSCMD of RLNG, which is expected to positively impact its profitability.

IGL Q2 FY25 Financial Performance

For Q2 FY25, IGL reported an 18% year-on-year decline in its consolidated net profit, which stood at ₹454 crore. The decline was primarily attributed to higher costs of procuring natural gas. On a sequential basis, the company’s net profit fell by 5%. Despite the profit decline, IGL’s consolidated total income for Q2 FY25 increased to ₹4,171 crore, up from ₹3,694 crore in Q1 FY25 and ₹3,884 crore in Q2 FY24. The company’s consolidated total expenses also rose, reaching ₹3,674 crore in Q2 FY25, compared to ₹3,428 crore in Q1 FY25 and ₹3,270 crore in Q2 FY24.

On Jan 10, 2025, IGL share price opened at ₹425.00 and touched the day high of ₹432.00 at 11:40 AM.

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