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Q4 Results: Indraprastha Gas Net Profit Decline By 8% To Rs 329 Cr, Revenue Up By 53%
A final dividend for the fiscal year 2022-23 has not been declared by the IGL board as the two interim dividends of 150 per cent and 500 per cent respectively had already been declared by the company for the financial year 2023
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Natural gas distributor Indraprastha Gas (IGL) on Friday reported a net profit decline of 8 per cent to Rs 329.13 crore in the fourth quarter that ended on 31 March 2023.
The company’s net profit stood at Rs 363.08 crore in the corresponding period last year. While its operational revenues registered a sharp increase of 53 per cent in the January to March quarter at Rs 3,687.2 crore in comparison to Rs 3,711 crore in the year-ago period.
A final dividend for the fiscal year 2022-23 has not been declared by the IGL board as the two interim dividends of 150 per cent and 500 per cent respectively had already been declared by the company for the financial year 2023.
The company's net compressed natural gas (CNG) sales stood upward in the March quarter at Rs 3,021 crore, compared to Rs 1,936 crore in the corresponding period last year. Subsequently, its net piped natural gas (PNG) sales in the fourth quarter were at Rs 1,021 crore in comparison to Rs 702 crore in the year-ago period.
Established in 1998, Indraprastha Gas mainly operates in Delhi-NCR including neighbouring cities like Noida. Last month, the company reduced its prices of CNG and PNG by Rs 6 in Delhi, marking its first price reduction in two years.