IGL to promote wider usage of gas through new applications
Press Release, New Delhi, 01 August, 2011
Indraprastha Gas Limited (IGL) the sole supplier of CNG and PNG in Delhi, Noida, Greater Noida and Ghaziabad, plans to promote wider usage of gas for various applications through co-generation, gas geysers, gensets etc. This was announced by Mr. B.C. Tripathi, Chairman, IGL while addressing the shareholders at the 12th Annual General Meeting of the company in New Delhi. He added that IGL had recorded an all time high growth in the average sales volume per day in PNG segment, which increased by 106% as compared to the last financial year. The year 2010-11 witnessed huge expansion in CNG infrastructure with 37 new CNG stations set up by the company in the last year thus taking the figure from 241 stations to 278 stations while the compression capacity increased from 37.69 Lakh kgs/day in March 2010 to 51.13 Lakh Kgs/day in March 2011 thereby showing a growth of 36%.
Addressing the shareholders, Mr. B.C. Tripathi highlighted the achievements of IGL in 2010-11. He said, "The financial year 2010-11 was another eventful year in which for the first time, the Company started Online CNG supply to vehicles in Ghaziabad."
Disclosing the future plans of the organization, he informed that in addition to catering to the demand of households, the thrust would be on tapping industrial and commercial customers who have huge demand potential. Also, private vehicles will continue to be a growth driver for CNG sales in the coming years.
Speaking about the future growth plans in changing business dynamics, he highlighted the initiatives taken by Company in the areas of Information Technology, Human Resources, Operational Efficiency and Customer Satisfaction. He added, “Besides consolidating its position in the existing geographical areas of operations, the Company has plans to add new geographical areas for its future growth".
Also present on the occasion were Mr. Rajesh Vedvyas, Managing Director, IGL, Mr. Manmohan Singh, Director (Commercial), IGL and other directors of the company.
The Company recorded an impressive growth of 61% in gross turnover and 21% in profit after tax in 2010-11 over the last financial year. The company’s gross turnover had increased to Rs. 1952 crores in FY 11 as compared to Rs. 1213 crores of FY 10 and Profit After Tax had increased to Rs. 260 crores from Rs 215 crores during the corresponding year. The shareholders approved the dividend of 50% to the shareowners as recommended by the Board of Directors.