Indraprastha Gas Q4 Results, Net Profit Rises 9% to Rs 433 Crore

Indraprastha Gas Q4 Results, Net Profit Rises 9% to Rs 433 Crore

Indraprastha Gas Ltd (IGL), a state-owned company, has reported a consolidated net profit of Rs 433.29 crore for the fourth quarter of the fiscal year 2023-24. This marks a significant increase of 9% as compared to the same period in the previous year, when the company had reported a net profit of Rs 397.51 crore. However, there has been a decrease of almost nine percent from the previous quarter ending on December 31, when the company had recorded a net profit of Rs 475.45 crore.

The company's revenue from operations during the quarter under review stood at Rs 3,964.42 crore, little bit declining from Rs 4,056.44 crore reported in the same period last year.

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Meanwhile, in a recent board meeting held on May 7, 2024, IGL announced the appointment of Prof. Dr. Simrit Kaur as an Additional and Independent Director of the Company for three years. Her appointment is effective from the date of allotment of the Director Identification Number (DIN).

The EBITDA for Q4 was Rs 682.58 crore, down 3% from the previous quarter's Rs 702.65 crore.

The company's board has proposed a dividend of Rs. 5 per share for the financial year 2023-24. According to an exchange filing, "The Board of Directors has recommended a final dividend of 250%, which amounts to Rs. 5.00 per equity share of Rs. 2 each for the year that ended on March 31, 2024." The proposal will be subject to the approval of shareholders at the upcoming Annual General Meeting.

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During the quarter ending March 31, IGL's total volume was 8.73 million metric standard cubic meters per day (mmscmd), representing a 6% increase compared to the same period last year.

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