Indraprastha Gas Ltd (IGL) on July 23 reported a net profit of Rs 438.5 crore for the first quarter of fiscal year 2023-24, which is 4 percent higher as compared to Rs 421.2 crore recorded in the year-ago period.
Sequentially, the net profit has jumped by 32.9 percent as it stood at Rs 330 crore in the quarter ending March 31, 2023.
The net profit clocked by IGL in Q1FY24, at Rs 438.5 crore, has fallen 5.3 percent short of the CNBC TV-18 poll estimate of Rs 463 crore.
During the quarter under review, the company reported net revenue from operations at Rs 3,406.98 crore, which is 7 percent higher than Rs 3,193.85 crore recorded in Q1FY23.
Sequentially, the revenue was down by 7.6 percent, as it had come in at Rs 3,685 crore in the fourth quarter of the last fiscal.
The revenue in Q1FY24, at Rs 3,406.98 crore, has fallen marginally short by 0.2 percent as compared to the CNBC TV-18 poll estimate of Rs 3,415 crore.
The earnings before interest, tax, depreciation and amortisation (EBITDA) came in at Rs 642.4 crore during the first quarter, which is 4 percent higher as compared to Rs 617.51 crore recorded in the year-ago period. Sequentially, the EBITDA rose by 37.7 percent, as it stood at Rs 466 crore in the last quarter.
The EBITDA of Rs 642.4 crore in Q1FY24 is 1.6 percent lower than what CNBC TV-18 poll had seen at Rs 653 crore. The margin of EBITDA came in at 19 percent, which is the same as compared to the year-ago period. In the fourth quarter, the margin stood at 12.6 percent.
In the last trading session on June 21, the shares of IGL settled at Rs 493 apiece on the BSE, which was 0.43 percent higher than the previous day's close.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
