Indraprastha Gas Ltd (IGL) on November 1 reported increase of 29.5 percent in consolidated net profit to Rs 553 crore for the second quarter of fiscal year 2023-24.
The city gas distribution company had posted a net profit of Rs 427 crore in the year-ago period. Net profit marginally increased on a quarterly basis as the company recorded Rs 522 crore profit in the quarter ending June 30, according to an exchange filing by Indraprastha Gas.
During the quarter under review, the company’s revenue from operations came in at Rs 3,822.53 crore, a decline from Rs 3,922 crore recorded in the same period last year.
The company’s board of directors also declared interim dividend of Rs 4 per share, with a face value of Rs 2 per share.
Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at Rs 808.77 crore during the second quarter, which was almost 25 percent higher as compared to Rs 648.2 crore recorded in the year-ago period.
The company’s total volume stood at 8.30 mmscmd (million metric standard cubic meters per day), reporting a growth of 3 percent compared to last year.
CNG volumes showed 3 percent growth year-on-year at 574.72 million scm while PNG (domestic) and PNG (industrial/ commercial) witnessed 15 percent increase and 2 percent decline in volumes on yearly basis respectively.
Shares of IGL settled at Rs 380.55 apiece on the BSE, which was 0.59 percent lower than the previous day's close.
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