During Wednesday’s intraday trading session, stock of Indraprastha Gas Ltd. (IGL) increased by 7% to Rs 468.20 a share on the BSE. The rise coincides with a 0.4 percent decline in the S&P BSE, which closed at 23,221 points. The rise comes after the business reported excellent financial outcomes for the last period of its 2023–2024 fiscal year.
In Q4, IGL recorded an aggregate net profit of Rs 433.29 crore, up 9% from Rs 397.51 crore during the same period previous year. nevertheless compared to the last quarter, which concluded on December 31 and had a net profit of Rs 475.45 crore, there was a minor reduction in the net profit of about 9%.
The quarter’s operating earnings of Rs 3,964.42 crore was almost less than the preceding quarter’s revenue of Rs 4,056.44 crore.at the exact same time frame as the previous year. Following a modest fall of around 3% from the previous period’s figure of Rs 702.65 crore, the profits before interest, tax, depreciation, and amortization (EBITDA) for the fourth quarter came in at Rs 682.58 crore.
The organization’s total volume for the quarter that ended on March 31 was 8.73 million metric standard cubic yards per day (mms cmd), which represents a 6% rise over the same period the previous year. In juxtaposition with the same period last year, PNG (home) and PNG (industrial/commercial) endured notable gains in volumes of 17% and 12%, respectively. Meanwhile, CNG volumes increased by 5% year over year to reach 580 million scm.
The board of the firm also suggested paying a dividend of Rs 5 per share for the 2023–2024 fiscal year. Analysts at Motilal Oswal noted that the sales and profit after tax (PAT) of the company mostly met their expectations. However, the company missed estimates on EBITDA due to lower-than-expected margins.
As of 11:11 AM, the shares of the company were trading 5.86% higher at Rs 462.80 per share. Presently, IGL is trading at a price-to-earnings multiple of 25.70 times, indicating investor confidence in its growth prospects.
