The company stated that the revised allocation will positively impact its profitability.
The nodal agency of domestic gas allocation, GAIL (India) Limited has announced a 29% increase in the domestic gas allocation to IRM Energy Limited which will be effective from January 16, 2025, and this revision will raise the share of domestic gas in the CNG segment from 37% to 51%.
The company stated that the revised allocation will positively impact its profitability. Shares of IRM Energy were trading flat at Rs 340.60, down 0.39%, on the BSE. The company’s stock hit a new 52-week low of Rs 335.50 on January 10, 2025.
IRM Energy, a small-cap entity in the gas transmission and marketing sector, views this revision as a significant step towards enhancing profitability in a challenging market environment.