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New Delhi, July 29 Indraprastha Gas Ltd (IGL), the sole supplier of compressed natural gas and piped natural gas (PNG) here, has reported a 10.5 per cent increase in net profit for the first quarter (April-June 2009) of the current fiscal. According to an official statement, its net profit for the quarter ended June increased to Rs 48.27 crore from Rs 43.68 crore in the corresponding period last year. During the quarter under review, IGL’s sales increased 21.34 per cent to Rs 261.51 crore (Rs 215.51 crore).

The company plans to add 50,000 new PNG connections in the current financial year.

IGL has already tied up its future gas requirements by signing gas sale agreements with GAIL and BPCL and is in the process of signing agreement with Reliance for KG basin gas.

IGL has chalked out an expansion programme.

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