Tue Dec 10 11:08:39 UTC 2024: **Indraprastha Gas Ltd. Announces 1:1 Bonus Issue, Shares Rise**

**New Delhi, India (December 10, 2024)** – Indraprastha Gas Ltd. (IGL), a leading provider of clean energy solutions, saw its share price increase by up to 2% following the announcement of a 1:1 bonus issue. The board of directors approved the issuance of one bonus equity share for every existing share held by eligible shareholders.

The company, which has a market capitalization of Rs 27,051.53 crore, currently trades at Rs 386.65 per share. This represents a slight increase from the previous closing price of Rs 385.65.

IGL reported strong financial results for Q2FY25, with a 7% revenue increase to Rs 3,697 crore compared to Rs 3,459 crore in Q2FY24. Net profit also saw a significant 19% jump, rising from Rs 535 crore to Rs 431 crore during the same period. The company is targeting a sales exit rate of 9.5 MMSCMD for FY25, driven by growth in CNG sales, particularly in Noida and Ghaziabad, and a 12% year-on-year increase in PNG volumes across domestic, commercial, and industrial segments.

IGL plans to invest Rs 1,700 crore in capital expenditure (CAPEX) for FY25, with Rs 500 crore already spent in the first half. This investment will be split between Delhi NCR and other regions. The company also plans to expand its LNG station network, aiming for 50 stations within 3 to 5 years.

While acknowledging challenges from reduced APM allocations and rising gas prices, IGL management remains optimistic about long-term growth, citing the competitive pricing of CNG compared to petrol and diesel. Ongoing government discussions regarding excise duty and GST adjustments could further benefit the company.

**Disclaimer:** *This news article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.*

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