New Delhi: State-run Indraprastha Gas (IGL) on Wednesday reported a 29% y-o-y growth in its net profit to INR 534.81 crore in the July-September quarter in the current financial year.
“The net profit for the quarter ending September 2023 has increased by 29% to INR 534.81 crore from INR 438.40 crore in the corresponding quarter in the last fiscal. These are standalone results for IGL only and do not include profits accruing from associate companies,” the company said in a statement.
IGL, the country’s largest CNG distribution company, operates city gas distribution (CGD) networks across 30 districts in eleven geographical areas, covering states such as Delhi, Uttar Pradesh, Haryana, and Rajasthan.
The company’s unaudited Q2 results for the quarter ending September 2023 indicate a 3% growth in overall sales volume compared to the same quarter in the previous fiscal. The average daily sale increased to 8.30 mmscmd from 8.09 mmscmd. Both CNG and PNG products recorded a 3% sales volume growth when compared to the corresponding quarter of the previous year.
The total sales value during this quarter stood at INR 3804.35 crore, a slight decrease from INR 3908.48 crore during the second quarter of FY’23, attributed to a reduction in international gas prices.
In addition to its financial results, the company board also declared an interim dividend at 200%, that is, INR 4 per share at the face value of INR 2 each on the equity shares of the company for the financial year 2023-24.
“The record date for ascertainment of shareholders entitled to receive the aforesaid interim dividend shall be November 15, 2023,” the company said in a regulatory filing.
