Q4 Results Impact: IGL stock jumps 7% after net profit rises 9% in March quarter

The steadfast posted a 9 percent emergence successful its consolidated nett net astatine ₹433.79 crore arsenic against ₹397.51 crore successful the corresponding play past year. However, the starring metropolis state distributor's (CGD's) gross from operations successful the 4th nether reappraisal fell 2 percent to ₹3,964.42 crore, versus ₹4,056.44 crore successful the year-ago period.

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The banal roseate arsenic overmuch arsenic 7 percent to its day's precocious of ₹468.20. It has present precocious 24.5 percent from its 52-week debased of ₹375.80, deed connected November 1, 2023; but is inactive implicit 9 percent distant from its 52-week precocious of ₹515.55, deed connected May 9, 2023.

The banal has mislaid 9 percent successful the past 1 twelvemonth but has gained 13 percent successful 2024 YTD.

Among different highlights, IGL's full income volumes roseate 4 percent successful Q4 to 3,084.5 cardinal modular cubic metres (scm), up from 2,951.9 cardinal scm successful the corresponding 4th of the erstwhile year.

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"The income measurement successful the 4th accrued from 8.25 cardinal modular cubic metres per time successful Q4 of 2022-23 to 8.73 mmscmd successful Q4 of FY'24, showing measurement maturation of 7 percent. While CNG registered a income measurement maturation of 5 percent during the period, piped earthy state showed wide income measurement maturation of 11 percent during this 4th (January-March)," said IGL.

The institution is simply a associated task betwixt cardinal state inferior GAIL, lipid selling institution BPCL, and the Government of Delhi, who collectively clasp a 50 percent involvement successful the company.

The committee besides recommended a last dividend of 250 percent astatine ₹5 per equity stock for FY24. "The committee besides recommended last dividend @250 percent i.e. ₹5 per stock (face worth of ₹2 each) for the fiscal twelvemonth 2023-24, taxable to the support of shareholders successful the ensuing Annual General Meeting," said IGL successful a regulatory filing to the banal exchanges.

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For the afloat 2023-24 fiscal (FY24), the company's nett net accrued 21 percent to ₹1,748.08 crore arsenic compared to ₹1,445.02 crore successful the erstwhile fiscal year. However, its gross turnover slipped marginally to ₹15,403.13 crore successful FY24 from ₹15,543.67 crore successful the year-ago play chiefly owed to the cooling disconnected of planetary state prices contempt an summation successful income volume.

"IGL has remained focused not lone connected executing strategical priorities amidst a challenging operating situation but has besides been committed to delivering semipermanent worth to its stakeholders," said the steadfast successful its speech filing.

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Published: 08 May 2024, 11:37 AM IST