Indraprastha Gas Ltd. (IGL), the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Delhi yesterday evening presented the dividend cheque of Rs 2.80 crores to the Government of NCT of Delhi, one of its stakeholders, for the financial year 2007-08. The Government of NCT of Delhi holds 5 per cent equity stake in IGL.
Mr. Rajesh Vedvyas, Managing Director, IGL, presented the dividend cheque to Mr Tejendra Khanna, Hon'ble Lt-Governor of Delhi. Mr. Manmohan Singh, Director (Commercial), IGL and other top officials of IGL were also present on the occasion. IGL has declared a 40 per cent dividend for the year 2007-08 as compared to dividend of 30 per cent declared in the year 2006-07.
The financial year 2007-08 had been excellent for IGL. The gross revenue increased from Rs 713.8 crore in financial year 2006-07 to Rs 816.9 crore during the financial year 2007-08, and the profit after tax increased from Rs 137.96 crore to Rs 174.5 crore during the same period.
The role of IGL in checking the vehicular pollution in Delhi is well acknowledged both at national as well as international forums. IGL has well laid out its city gas distribution infrastructure in Delhi which consists of over 1550 Kms of pipeline network. 163 CNG stations have been created and the network has connected over 1,25,000 households. IGL is meeting fuel requirements of over 2.5 lakh vehicles running on CNG in NCR.
IGL is on threshold of wide expansion of its services. There has been a heavy increase in demand due to all around conversion of vehicles to CNG and increased acceptability of PNG as a domestic fuel as a result of soaring prices of conventional fuels. Secondly, due to the challenging task lying ahead of IGL for creating CNG infrastructure not only in NCT but all over NCR due to forthcoming world event - Commonwealth Games in 2010.
Mr. Rajesh Vedvyas, Managing Director, IGL, presented the dividend cheque to Mr Tejendra Khanna, Hon'ble Lt-Governor of Delhi. Mr. Manmohan Singh, Director (Commercial), IGL and other top officials of IGL were also present on the occasion. IGL has declared a 40 per cent dividend for the year 2007-08 as compared to dividend of 30 per cent declared in the year 2006-07.
The financial year 2007-08 had been excellent for IGL. The gross revenue increased from Rs 713.8 crore in financial year 2006-07 to Rs 816.9 crore during the financial year 2007-08, and the profit after tax increased from Rs 137.96 crore to Rs 174.5 crore during the same period.
The role of IGL in checking the vehicular pollution in Delhi is well acknowledged both at national as well as international forums. IGL has well laid out its city gas distribution infrastructure in Delhi which consists of over 1550 Kms of pipeline network. 163 CNG stations have been created and the network has connected over 1,25,000 households. IGL is meeting fuel requirements of over 2.5 lakh vehicles running on CNG in NCR.
IGL is on threshold of wide expansion of its services. There has been a heavy increase in demand due to all around conversion of vehicles to CNG and increased acceptability of PNG as a domestic fuel as a result of soaring prices of conventional fuels. Secondly, due to the challenging task lying ahead of IGL for creating CNG infrastructure not only in NCT but all over NCR due to forthcoming world event - Commonwealth Games in 2010.
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