New Delhi, Aug. 13 -- Indraprastha Gas Limited (IGL) reported a sharp decline in profits in the first quarter of the current financial year, with standalone net profit falling 48 per cent year-on-year as higher input gas costs squeezed margins, even as the city gas distributor recorded its highest-ever quarterly revenue.

IGL's standalone net profit fell to Rs 186.18 crore in the quarter ended June 2026 from Rs 355.94 crore in the corresponding quarter last year, according to the company's unaudited financial results.

Revenue from operations, however, rose about 16 per cent to a record Rs 5,040.15 crore from Rs 4,326.60 crore in the year-ago period.

The company attributed the pressure on profitability to elevated gas costs following vol...