IGL Q4 results: Indraprastha Gas net profit at ₹382.8 crore; declares 250% final dividend

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indraprastha Gas Ltd (IGL) net profit jumped 16% on a year-on-year (YoY) basis to ₹382.8 crore in the January-March quarter of the financial year 2023-24 on Tuesday, May 7 but 1.3% lower than the CNBC-TV18 poll estimate of ₹388 crore.

On a sequential or quarter-on-quarter (QoQ) basis as well, India’s largest compressed natural gas (CNG) retailer’s net profit dipped 2.4% from ₹388 crore in the preceding October-December quarter.

IGL’s Q4FY24 revenue surged 1.3% on a quarter-on-quarter (QoQ) basis to ₹3,596.8 crore, from ₹3,550.4 crore it had reported in the preceding October-December quarter. The CNBC-TV18 poll had estimated a revenue of ₹3,582 crore.

IGL’s EBITDA dropped 6.4% sequentially to Rs 522.6 crore in the January-March quarter from ₹558.1 crore in Q3FY24. The CNBC-TV18 poll estimate on the EBITDA front was ₹561 crore. The margin also declined from 15.7% in Q3FY24 to 14.5% in Q4FY24.

IGL’s full fiscal year net profit soared 21% to ₹1,748.08 crore as against ₹1,445.02 crore in the previous year.

The average daily gas sale during the year 2023-24 was 8.43 mmscmd as compared to 8.09 mmscmd in FY23, showing an overall growth of 4%. While CNG volumes registered a growth of 4% in the fiscal, piped gas sales volumes were up by 6% in FY 2023-24 over the preceding fiscal.

IGL dividend news

IGL Board also recommended a final dividend of ₹5 per share for the year ended March 31, 2024. “The Board also recommended final dividend @ 250% i.e. ₹5 per share (face value of ₹2/-each) for the financial year 2023-24, subject to the approval of shareholders in the ensuing Annual General Meeting,” the company informed bourses in a filing.

IGL had paid a dividend of ₹4 per equity share in the October-December quarter results. For the year ending March 2023, Indraprastha Gas declared an equity dividend of 650.00% amounting to ₹13 per share.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow