Indraprastha Gas Limited (IGL) reported a sharp 93.4% year-on-year decline in its standalone net profit for the July-September quarter of FY27, as a steep increase in input gas costs amid global supply disruptions linked to uncertainties in West Asia weighed on its margins.
The company’s standalone net profit for the quarter ended Sept was Rs 24.4 crore, compared with Rs 372.5 crore in the corresponding period of FY26, despite an 8% increase in sales volume and a 26% rise in sales turnover.
IGL’s average daily sales increased from 9.3 million standard cubic metres per day (mmscmd) to 10.1 mmscmd during the quarter, reflecting the growth in demand, while gross sales turnover rose to Rs 5,999.1 crore from Rs 4,431.6 crore in the corresponding period of FY26.
Among products, CNG sales grew 9% piped natural gas (PNG) sales by 8%.
India’s three state-run fuel retailers earned a combined standalone net profit of Rs 30,106 crore in the July-September quarter, nearly 39 per cent of their annual earnings, after a refining margin boost and inventory gains helped more than offset losses on fuel sales and a mounting unpaid LPG subsidy bill.
The strong quarterly performance came despite continued pressure on their marketing business, where oil companies have been absorbing losses by selling certain fuels below cost.
The combined profit of Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) is 68.3 per cent more than their earnings in the same period last year and a swing from a combined loss of about Rs 18,150 crore in the previous April-June quarter, according to company filings.
IGL Earnings Hit By West Asia Disruptions, Profit Falls By 93%
