IGL Q1 FY07 net up by 37 pc

New Delhi, July 31 (UNI) Indraprastha Gas Ltd (IGL), the sole supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the national capital,today registered a growth of 37 per cent in net profit at Rs 27.63 crore for the first quarter ended June 30, 2006, as against Rs 20.24 crore in corresponding period last fiscal.

During Q1 FY07, IGL also recorded 19 per cent increase in its net sales over the corresponding period last year, company statement said.

The company is targeting the vast potential in the private vehicle segment and is encouraging conversion of private cars to CNG mode.

IGL claims to have fixed the cheapest price of CNG for the national capital, as compared to other cities of country.

The company has also initiated steps for expansion towards neighbouring Ghaziabad, Greater Noida, Sonipat and Panipat.

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