Indraprastha Gas Limited (IGL) has announced a significant reduction in its domestic gas allocation, which has been lowered by 21% effective October 16, 2024. This reduction in allocation, communicated by GAIL (India) Ltd., is expected to negatively impact IGL’s profitability. The company relies on domestic gas for meeting its compressed natural gas (CNG) sales requirements at government-regulated prices.
IGL is currently in discussions with key stakeholders to explore ways to mitigate the adverse impact of this reduction on its financial performance. The company is working towards minimizing the potential hit to its profitability.
