Indraprastha Gas slides as Q3 PAT declines 10% YoY

Indraprastha Gas (IGL) fell 2.11% to Rs 414.95 after the company reported 9.81% decrease in net profit to Rs 278.26 crore despite of 67% jump in net revenue from operations to Rs 3,710.81 crore in Q3 FY23 over Q3 FY22.

The company's profit before tax skid 5.93% YoY to Rs 389.11 crore in the quarter ended 31 December 2022.

EBIDTA declined to Rs 428.47 crore in Q3 FY23 from Rs 469.61 crore in Q3 FY22. EBIDTA margin slipped to 12% as on 31 December 2022 as compared with 21% as on 31 December 2021.

Total volumes rose by 6% to 747.06 million in Q3 FY23 from 704.28 million in Q3 FY22. CNG sales volume stood at 558.76 SCM million (up 8% YoY) while total PNG sales volume aggregated to 188.30 SCM million (up 1% YoY) during the period under review.

Meanwhile, the board of directors has declared interim dividend of Rs 3 per equity share of the company for the financial year 2022-23. The record date for the same has been fixed on 7 February 2023.

Indraprastha Gas is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.

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