Comments
Indraprastha Gas (IGL) on Friday reported a consolidated net profit of ₹398 crore for the January-March quarter of FY23, a y-o-y decline of 8 per cent from ₹431 crore in Q4 FY22.
However, on a sequential basis, the net profit was higher by 19 per cent from ₹334 crore in Q3 FY23, aided by the softening of liquefied natural gas (LNG) prices in international markets and growing consumption.
Also read: HPCL’s profit jumps 79% to ₹3,608 crore on declining crude oil prices
Its consolidated total income rose 52 per cent y-o-y to ₹4,127 crore during Q4. However, on a q-o-q basis, IGL’s total income declined marginally (0.4 per cent). For FY23, IGL reported a consolidated net profit of ₹2,122.37 crore as against ₹1,953.20 crore in FY22. Total income stood at ₹15,805.93 crore (- ₹8,661.37 crore).
The CPSU’s total expenses during Q4 rose 66 per cent on an annual basis to ₹3,692 crore, but on a q-o-q basis, the expenses were down 2 per cent. The company reported a 7 per cent y-o-y jump in total sales at 8.26 million standard cubic meters per day (msmcd). On a q-o-q basis, the sales volume was higher by 9 per cent.
Product wise, compressed natural gas (CNG) sales rose 8 per cent y-o-y to 550 mscm, while sales of piped natural gas (PNG) for households grew by 9 per cent y-o-y to 56 mscm. PNG sales from commercial and industrial (C&I) consumers was flat y-o-y at 92 mscm. Sales volume of natural gas was also almost flat at 45 mscm.
Also read: Cipla’s Q4 profit grows 45% to ₹536 crore
IGL’s gross sales from CNG rose 56 per cent y-o-y to ₹3,021 crore in Q4 FY23, while PNG cross sales were up 45 per cent y-o-y to ₹1,021 crore during the same period.
After consolidating the financial results of two associate companies, CUGL & MNGL, the consolidated net profit after tax of the company comes to ₹1,640 crore as against consolidated profit of ₹1,504 crore in the previous year. The company operates city gas distribution (CGD) networks across 31 districts in 11 geographical areas across Delhi, Uttar Pradesh, Haryana and Rajasthan.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.