Home / Markets / Stock Markets /  Indraprastha Gas declares 150% dividend, records 67% jump in Q3 revenue

Indraprastha Gas Limited a joint Venture of GAIL (India) Ltd., BPCL. & Govt. of NCT of Delhi, is a large-cap company having a market cap of 29,046.53 Cr and the company deals in the energy sector. The company has declared its Q3FY23 results today along with a dividend of 150% for the financial year 2022-23.

The company has said today in a stock exchange filing that “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)."

On a standalone basis, the company recorded net revenue of 4,089.03 Cr in the quarter ended December 2022 as against 2,438.48 Cr recorded in the quarter ended December 2021, representing a growth of 67.68% YoY. The company reported total expenses of 3,755.66 Cr in Q3FY23 as against 2,055.20 Cr in Q3FY22. Noida-based natural gas distributor, Indraprastha Gas recorded a standalone net profit of 278.26 Cr in Q3FY23 as against 308.52 Cr recorded in the year-ago quarter, representing a fall of 9.80% YoY. The company's EPS or earnings per share stood at 3.98 in the quarter ended December 2022 as against 4.41 recorded in the year-ago quarter.

Indraprastha Gas posted a total volume of 2209.07 million scm in Q3FY23 against 1853.74 million scm in the same quarter last year -- registering a growth of 19%. On segment-wise performance, CNG sales volume climbed 24% YoY to 1658.81 million scm in Q3FY23 against 1337.49 million scm in Q3FY22. Total PNG sales volumes surged to 550.26 million scm in Q3FY23 versus 516.25 million scm in Q2 of the previous fiscal, registering a growth of 7%. Under PNG, sales volume soared to 141.15 million scm domestically, while in terms of industrial commercial, the volumes picked up 271.99 million scm in Q3FY23. Natural gas volumes stood at 137.12 million scm in the quarter ended December 2022 as against 125.60 million scm in the quarter ended December 2021, registering a growth of 9%.

On the NSE, the shares of Indraprastha Gas closed today at 414.00 apiece level, down by 2.40% from the previous close of 424.20.

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