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

The top-line front was strong during the quarter under review. In Q2FY23, the company’s revenue from operations stood at ₹3,922.02 crore increasing by a whopping 94.55% as against ₹2,015.99 crore in Q2 of FY22. During Q1FY23, the company registered a revenue of RS 3,530.34 crore.

Indraprastha Gas posted a total volume of 744.17 million scm in Q2FY23 against 665.69 million scm in the same quarter last year — registering a growth of 12%.

On segment-wise performance, CNG sales volume climbed to 560.25 million scm in Q2FY23 against 487.59 million scm in Q2FY22. Total PNG sales volumes surged to 183.92 million scm in Q2FY23 versus 178.10 million scm in Q2 of the previous fiscal.

Under PNG, sales volume soared to 46.19 million scm domestically, while in terms of industrial commercial, the volumes picked up 45.97 million scm in Q2FY23. Natural gas volumes inched higher to 45.97 million scm in the quarter.

In value terms, CNG sales climbed by a whopping 103% yoy to ₹2,597.87 crore, while PNG sales stood at ₹942.60 crore up by 74% yoy.

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

On Friday, the company’s shares closed at ₹381.30 apiece up by 0.57% on BSE. The company’s market cap is around ₹26,691.03 crore.

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

At the current market price, IGL’s dividend yield is around 1.4%.

Earlier this month, IGL increased the price of compressed natural gas (CNG) by ₹3 per kg across Delhi-NCR to ₹78.61 per kg. While the price of domestic piped natural gas (PNG) was hiked in Delhi to ₹53.59 per SCM. The new rates will be applicable from 8 October 2022.