NEW DELHI: Indraprastha Gas Ltd, India’s largest CNG retailer, on Tuesday reported a 16 per cent rise in March quarter net profit because it offered extra gasoline. The net profit of Rs 382.80 crore within the newest January-March quarter was in comparison with Rs 329.75 crore profit registered a yr in the past, the corporate mentioned in an announcement.
For the complete 2023-24 fiscal (April 2023 to March 2024), net profit soared 21 per cent to Rs 1,748.08 crore as towards Rs 1,445.02 crore within the earlier yr.
Turnover slipped marginally to Rs 3,949.17 crore in January-March from Rs 4,042.57 crore within the corresponding quarter of 2022-23.
The gross turnover in the course of the monetary yr 2023-24 was Rs 15,403.13 crore as in comparison with Rs 15,543.67 crore within the previous monetary yr 2022-23 primarily attributable to cooling off of worldwide gasoline costs regardless of enhance in gross sales quantity.
“The sales volume in the quarter increased from 8.25 million standard cubic metres per day in Q4 of 2022-23 to 8.73 mmscmd in Q4 of FY’24, showing a volume growth of 7 per cent. While CNG registered sales volume growth of 5 per cent during the period, piped natural gas showed overall sales volume growth of 11 per cent during this quarter (January-March),” it mentioned.
The common day by day gasoline sale in the course of the yr 2023-24 was 8.43 mmscmd as in comparison with 8.09 mmscmd in FY’23 (April 2022 to March 2023), displaying an total development of 4 per cent.
While CNG volumes registered a development of 4 per cent within the fiscal, piped gasoline gross sales volumes had been up by 6 per cent in FY 2023-24 over the previous fiscal.
“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 stake holders,” the assertion mentioned, including the corporate board really helpful a closing dividend of 250 per cent for shareholdres.
This dividend is along with 200 per cent interim dividend already paid in the course of the monetary yr.
After consolidating the monetary outcomes of two affiliate corporations, CUGL and MNGL, the consolidated net profit after tax of IGL involves Rs 1,983.40 crore in 2023-24 towards a consolidated profit of Rs 1,639.65 crore in FY22-23, displaying a rise of 21 per cent yr on yr.
IGL operates metropolis gasoline distribution (CGD) networks throughout 30 districts in 11 geographical areas throughout 4 states of Delhi, Uttar Pradesh, Haryana and Rajasthan.
It has laid out metropolis gasoline distribution infrastructure in Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Karnal, Kaithal Fatehpur, Ajmer, Pal, Rajsamand, Hamirpur, Shamli, Muzaffarnagar, Banda and elements of Kanpur and Meerut, which consists of greater than 25,000 kms of pipeline community.
IGL meets gasoline necessities of over 1.7 million automobiles operating on CNG by way of a community of over 850 CNG stations. IGL has related over two-and-a-half million households in these cities with piped pure gasoline.
For the complete 2023-24 fiscal (April 2023 to March 2024), net profit soared 21 per cent to Rs 1,748.08 crore as towards Rs 1,445.02 crore within the earlier yr.
Turnover slipped marginally to Rs 3,949.17 crore in January-March from Rs 4,042.57 crore within the corresponding quarter of 2022-23.
The gross turnover in the course of the monetary yr 2023-24 was Rs 15,403.13 crore as in comparison with Rs 15,543.67 crore within the previous monetary yr 2022-23 primarily attributable to cooling off of worldwide gasoline costs regardless of enhance in gross sales quantity.
“The sales volume in the quarter increased from 8.25 million standard cubic metres per day in Q4 of 2022-23 to 8.73 mmscmd in Q4 of FY’24, showing a volume growth of 7 per cent. While CNG registered sales volume growth of 5 per cent during the period, piped natural gas showed overall sales volume growth of 11 per cent during this quarter (January-March),” it mentioned.
The common day by day gasoline sale in the course of the yr 2023-24 was 8.43 mmscmd as in comparison with 8.09 mmscmd in FY’23 (April 2022 to March 2023), displaying an total development of 4 per cent.
While CNG volumes registered a development of 4 per cent within the fiscal, piped gasoline gross sales volumes had been up by 6 per cent in FY 2023-24 over the previous fiscal.
“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 stake holders,” the assertion mentioned, including the corporate board really helpful a closing dividend of 250 per cent for shareholdres.
This dividend is along with 200 per cent interim dividend already paid in the course of the monetary yr.
After consolidating the monetary outcomes of two affiliate corporations, CUGL and MNGL, the consolidated net profit after tax of IGL involves Rs 1,983.40 crore in 2023-24 towards a consolidated profit of Rs 1,639.65 crore in FY22-23, displaying a rise of 21 per cent yr on yr.
IGL operates metropolis gasoline distribution (CGD) networks throughout 30 districts in 11 geographical areas throughout 4 states of Delhi, Uttar Pradesh, Haryana and Rajasthan.
It has laid out metropolis gasoline distribution infrastructure in Delhi, Noida, Greater Noida, Ghaziabad, Rewari, Gurugram, Karnal, Kaithal Fatehpur, Ajmer, Pal, Rajsamand, Hamirpur, Shamli, Muzaffarnagar, Banda and elements of Kanpur and Meerut, which consists of greater than 25,000 kms of pipeline community.
IGL meets gasoline necessities of over 1.7 million automobiles operating on CNG by way of a community of over 850 CNG stations. IGL has related over two-and-a-half million households in these cities with piped pure gasoline.
