IGL Q2 Profit Falls 93% on Higher Gas Costs
IGL's net profit for the second quarter fell 93% even though sales hit a record. Higher gas costs eroded its margins, and reports point to higher input gas cost and consumer price protection as the main causes. The figures are the company's latest quarterly results.
Context
Context: IGL (Indraprastha Gas Limited) is a city gas distributor in Delhi, so its gas costs can shape prices for cooking and vehicles. Such companies buy gas and pass part of the cost on to customers, and rates are often set under government rules.
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