Indraprastha Gas Q2 Results: Profit Rises, Revenue Misses Estimates
Indrapratha Gas Ltd.'s second quarter profit rose 5.9%, beating analysts' estimates.
The company's net profit increased to Rs 552.7 crore in the quarter ended September, according to an exchange filing on Friday. That compares with the Rs 519.2 crore consensus estimate of analysts tracked by Bloomberg.
The company's board also declared a 200% interim dividend of Rs 4 per equity share, of face Rs 2 each for the financial year 2024. The record date for the same is Nov. 15.
Indraprastha Gas Q2 FY24 (Consolidated, QoQ)
Revenue from operations grew 1.6% at Rs 3,458.5 crore vs Rs 3,407 crore (Bloomberg estimate: Rs 4,062.8 crore).
Ebitda grew 2.3% to Rs 656.9 crore vs Rs 642.4 crore.
Ebitda margin at 19% vs 18.8%.
Reported profit grew 5.9% to Rs 552.7 crore vs Rs 522 crore (Bloomberg estimate: Rs 519.2 crore).
Quarterly Sales Volume Performance
The company's total sales volume grew 3% this quarter to 8.30 million metric standard cubic meter per day as compared with 8.09 MMSCMD a year ago.
The sales volume for compressed and piped natural gas rose 3% YoY to 574.72 million standard cubic meter and 189.08 million standard cubic meter, respectively.
Domestic PNG sales volume rose 15% YoY in Q2 at 52.98 million SCM, while industrial PNG sales volume fell 2% YoY to 90.10 million SCM. Sales volume for natural gas remained the same as last year at 46 million SCM.
Shares of Indraprastha Gas closed 0.35% lower on Wednesday at Rs 381 apiece, as compared with a 0.47% fall in the Nifty 50 as of 3:30 p.m.
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