State-run Indraprastha Gas (IGL) on Tuesday reported a 9 per cent year-on-year (y-o-y) growth in its consolidated net profit at ₹433 crore in Q4 FY24, aided by higher sales. However, the net profit of India’s largest compressed natural gas (CNG) distributor fell 9 per cent on a sequential basis.

IGL’s consolidated total income rose 2 per cent y-o-y to ₹4,044 crore in Q4 FY24. Sequentially, income fell 2 per cent.

For FY24, the company’s consolidated total income fell 6 per cent y-o-y to ₹9,814 crore. Its net profit was higher by 21 per cent y-o-y at ₹1,983 crore.

Higher sales volume

Its sales volume rose from 8.25 million standard cubic meters per day (MSCMD) in Q4 FY23 to 8.73 MSCMD in Q4 FY24 with a volume growth of 7 per cent. While CNG registered sales volume growth of 5 per cent y-o-y during the period, piped natural gas (PNG) showed overall sales volume growth of 11 per cent.

Average daily gas sales during FY24 stood at 8.43 MSCMD (8.09 MSCMD), which is an overall growth of 4 per cent. While CNG volumes registered a y-o-y growth of 4 per cent during the fiscal, PNG sales volumes were up 6 per cent.

“IGL has remained focused not only on executing strategic priorities amidst a challenging operating environment but has also been committed to deliver long-term value to its stakeholders. The board has recommended a final dividend of 250 per cent for consideration of the members in the Annual General Meeting in addition to the 200 per cent interim dividend already paid during the financial year,” the company said.

The company operates city gas distribution (CGD) networks across 30 districts in 11 geographical areas across Delhi, Uttar Pradesh, Haryana and Rajasthan.

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