Indraprastha Gas’ Q3 profit accelerates 25% as sales, realisation from sales pump up

Distributor Indraprastha Gas Ltd. (IGL)’s net profit spurred 25% on a year-over-year (YoY) basis in the December-end quarter helped by increase in sales and better realisations from every standard cubic metre (SCM) sold.

IGL’s net profits increased 25% YoY to ₹358.57 crore in the third quarter of the ongoing financial year. The company’s EBITDA per SCM, which is among the primary indicators of profitability for a distributor, accelerated 27% to ₹5.45 during the reported period.

The city gas distributor’s gross sales value grew 8% YoY to ₹4,465 crore during the quarter.

In terms of volume, on a standalone basis, IGL’s sales volumes increased 3% YoY with average daily sales increasing to 9.43 million metric standard cubic meters per day (MMSCMD) from 9.11 MMSCMD during the comparable period a year ago.

The volume of piped natural gas (PNG) sold – during the quarter – increased 4% whilst compressed natural gas (CNG) increased 3%.

Along with their results, the company also declared an interim dividend of ₹3.25 per equity share.