Indraprastha Gas Ltd News

IGL board of directors have also decided to increase in the Authorized Share Capital.

Indraprastha Gas Ltd, the city gas license holder for the national capital and adjoining cities, hiked the CNG price by Re 1 per kg to Rs 75.09 in Delhi last month. 

There will, however, be no change in piped cooking gas prices.

CNG price in the national capital was today cut by Rs 0.60 per kg and piped cooking gas by Rs 0.65 per standard cubic meters following a 20 per cent slashing in natural gas rates

CNG price in the national capital was Thursday cut by 80 paise per kg and piped cooking gas (PNG) by 70 paise per unit following an 18 percent reduction in natural gas prices.

Indraprastha Gas Ltd, the sole supplier of CNG and piped cooking gas in the national capital, Wednesday reported 11 percent drop in the June quarter net profit on lower realisation from industrial and commercial users.

Earlier this year, IGL acquired 4.75 crore shares in MNGL in the first tranche at a price of Rs 38 from certain financial investor shareholders of MNGL.

CNG would offer over 58% savings towards the running cost when compared to petrol driven vehicles at the current level of prices in Delhi.

Indraprastha Gas Ltd, which supplies CNG in Delhi and its neighbourhood, is looking to acquire stakes in more city gas companies to expand its footprint to newer areas through inorganic growth.

A Committee of Secretaries has approved a rejig of natural gas allocation policy, giving city gas distribution firms like Indraprastha Gas Ltd top priority for allocation of domestically produced fuel.