Indraprastha Gas Limited's domestic gas allocation reduced

Indraprastha Gas Limited gets domestic gas allocation for meeting the requirement of PNG (D) & CNG sales volumes at the pricing fixed by the Govt. (presently at $6.75/MMbtu). Based on communication received by the Company from GAIL (India) Ltd. (the nodal agency for domestic gas allocation), this is to inform that there has been a reduction in domestic gas allocation to the Company effective from April 16, 2025. The revised domestic gas allocation to Company is approximately 20% lesser than previous allocation. However, the Company has been allocated additional ~125% of the reduction in domestic gas volumes as New Well Gas - NWG, which is priced at 12% of Indian Crude Basket - ICB, effective from 16th April, 2025.

The above revision in allocations is expected to impact the profitability of the Company.

Shares of Indraprastha Gas Limited was last trading in BSE at Rs. 178.90 as compared to the previous close of Rs. 174.75. The total number of shares traded during the day was 112924 in over 3895 trades.

The stock hit an intraday high of Rs. 179.80 and intraday low of 176.00. The net turnover during the day was Rs. 20116562.00.

Source : Equity Bulls

Keywords

IndraprasthaGas INE203G01027 IGL GasAllocation Reduction