Indraprastha Gas Ltd.'s fourth-quarter profit declined, though it still surpassed analysts' estimates.
The company's net profit fell 8.86% sequentially to Rs 433.29 crore in the quarter-ended March, according to an exchange filing on Tuesday. That compares with the Rs 375.15 crore consensus estimate of analysts tracked by Bloomberg.
Indraprastha Gas Q4 Highlights (Consolidated, QoQ)
Revenue up 1.12% to Rs 3,596.79 crore versus Rs 3,550.41 crore.
Ebitda down 6.33% to Rs 521.17 crore versus Rs 556.34 crore.
Margin down 117 basis points to 14.48% versus 15.66%.
Net profit down 8.86% to Rs 433.29 crore versus Rs 475.45 crore.
Volume
On a sequential basis, total sales volume for the fourth quarter stood 7% higher at 794.22 million standard cubic meter.
The domestic as well as industrial/commercial petroleum natural gas volume saw the highest sequential uptick at 17% and 12%, respectively.
Total volume for fiscal 2024 stood at 3,084.47 million standard cubic meter, which was up 4% as compared with the previous financial year.
The growth in volume was led by growth in domestic petroleum natural gas volume, which grew 15% year-on-year to 227.48 million standard cubic meter.
Compressed natural gas volume as well as industrial and commercial petroleum natural gas volume also saw an uptick at 4% and 3%, respectively.
Shares of Indraprastha Gas closed 0.26% higher at Rs 444.10 apiece before the results were announced, as compared with a 0.62% fall in the Nifty 50.
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