The company has registered YOY volume growth of 7 per cent. CNG sales prices were reduced substantially in beginning of the first quarter after the implementation of Kirit Parikh committee report. The increase in CNG sales is largely attributable to following factors:
- Increase in CNG automobile sales during current quarter due to introduction of new CNG variants by major manufacturers;
- Average per month addition of 13,750 vehicles during the 12 months on rolling basis.
- Addition of new fleet of buses for public use by state transport agencies in UP and Uttarakhand.
- Reduction in CNG prices by around 8 per cent in Delhi and 6 per cent in other GA’s have developed positive consumer sentiments and rising trend is again being witnessed in CNG conversion ratio.
The Company has also recorded increase in sales in its PNG domestic and commercial Segment by 20 per cent and 16 per cent approximately with addition of Approx. 2.25 lakh PNG domestic customers and 700 commercial Customers during last year
This story is from the September 11, 2023 edition of Dalal Street Investment Journal.
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This story is from the September 11, 2023 edition of Dalal Street Investment Journal.
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