Indraprastha Gas reports 95% jump in Q2 revenue to ₹3,922 cr, PAT up 4%

The top-line front was strong during the quarter under review. In Q2FY23The company’s revenue from operations was 3,922.02 crore as compared to an increase of 94.55% 2,015.99 crore in the second quarter of FY22. During Q1FY23, the company recorded a revenue of Rs 3,530.34 crore.

Indraprastha Gas registered a total business of 744.17 million SCM in the second quarter of FY 2013 as compared to 665.69 million SCM in the corresponding quarter last year – registering a growth of 12%.

On segment-wise performance, CNG The sales volume increased to 560.25 million SCM in Q2 FY2013 from 487.59 million SCM in Q2 FY2012. The total sales of PNG increased to 183.92 million SCM in Q2 FY 2013 as compared to 178.10 million SCM in Q2 last fiscal.

Under PNG, the sales volume increased to 46.19 million SCM domestically, while in the case of Industrial Commercial, the volume increased to 45.97 million SCM in Q2 FY23. Natural gas volume increased to 45.97 million SCM in the quarter.

In value terms, CNG sales registered a year-on-year growth of 103% 2,597.87 crore, while PNG sales remained 942.60 crore with a year-on-year growth of 74 per cent.

On a consolidated basis, the company posted a net profit of Q2FY23 vs . 426.84 crore in 418.63 crore in Q2FY22.

The company’s stock closed on Friday 381.30 each, up 0.57% on the BSE. The market cap of the company is approx. 26,691.03 crores.

For the financial year FY22, IGL paid an overall dividend of 275% 5.5 per equity share to its shareholders. The company has a strong track record of paying dividends to its investors.

IGL’s dividend yield at the current market price is around 1.4 per cent.

Earlier this month, IGL increased the price of Compressed Natural Gas (CNG) by how much? From 3 per kg in Delhi-NCR 78.61 per kg. While the price of domestic piped natural gas (PNG) in Delhi was hiked 53.59 per SCM. The new rates will be applicable from 8 October 2022.