IGL quarterly profit sinks 93% on costly gas

Indraprastha Gas Ltd reported a more than 93% year-on-year fall in second-quarter net profit to ₹24.38 crore as higher input gas costs squeezed margins. The city gas distributor's decision to shield consumers from global price swings also hurt earnings, even though sales volumes rose 8% to 10.06 million standard cubic metres per day.