Home / Companies / Company Results /  Indraprastha Gas Q3 net profit slides 10% YoY to Rs278 crore

NEW DELHI : Indraprastha Gas Ltd (IGL) on Wednesday reported 9.81% decrease in net profit to 278.26 crore in the December quarter despite a 67% jump in net revenue from operations.

The net operational review during the September-December quarter was 3,710.81 crore.

“The net profit for the quarter ending December 2022 has decreased by 10% to Rs.278.26 crore from Rs.308.52 crore in the corresponding quarter in the last fiscal," the company said.

However, on nine months basis, the net profit has increased by 17% from Rs.953 crore to Rs.1,115 crore. These are standalone results for IGL only and do not include profits accruing from associate companies. 

As per the unaudited Q3 results announced by the company for the quarter ending December 2022, IGL registered an overall sales volume growth of 6% over the corresponding quarter in the last fiscal, with the average daily sale going up from 7.66 mmscmd to 8.12 mmscmd. 

“Product wise, CNG recorded sales volume growth of 8%, while PNG recorded sales volume growth of 1% in the quarter as compared to corresponding quarter last year," it said.

The total gross sales value during the quarter has moved to Rs. 4072.93 crore as compared to Rs.2428.06 crore during the third quarter of FY’23.

The Board has also approved payment of interim dividend of 3 per share.

“We wish to inform that Board of Directors in its meeting held today, has declared interim dividend @ 150% i.e. Rs. 3.00 per share (Face value of Rs. 2/- each) on the equity shares of the Company for the Financial Year 2022-23. The record date for ascertainment of shareholders entitled to receive the aforesaid interim dividend shall be February 7, 2023 (Tuesday),“ it said.

On the NSE, the shares of Indraprastha Gas closed at Rs. 414.00 apiece today, down by 2.40% from the previous close.

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