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Results
25-Jan-24
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Analysis
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Indraprastha Gas
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Sales volume increase 4% in 9MFY24
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Indraprastha Gas consolidated netsales
declined 4.17% to Rs 3556.19 crore during Q3FY24 compared to Q3FY23.Operating
profit margin has jumped from 11.55% to 15.81%, leading to 31.24% rise in
operating profit to Rs 562.33 crore.
Purchase of finished goods cost fell from 77.17% to 71.60%. Employee cost increased from 1.18% to
1.66%. Other expenses rose from 10.10%
to 10.93%.
Other income fell 2.10% to Rs 54.57
crore. PBIDT rose 27.40% to Rs 616.9
crore. Provision for interest fell
32.18% to Rs 1.77 crore.
PBDT rose 27.73% to Rs 615.13 crore. Provision for depreciation rose 10.18% to Rs
101.91 crore.
Profit before tax grew 31.90% to Rs 513.22
crore. Share of profit/loss was 53.67%
higher at Rs 85.75 crore. Provision for
tax was expense of Rs 123.52 crore, compared to Rs 110.85 crore.
Effective tax rate was 20.62% compared to
24.92%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 42.67% to Rs 476.62 crore.
Promoters’ stake was 45.00% as of 31 December
2023 ,compared to 45.00% as of 31 December 2022.
During Q3FY24, CNG sales volume has increased
by 4% to 582.19 million standard cubic metres (mscm) and PNG sales volumes
increased 5% to 198.07 mscm. On an overall basis there is 4% increase in sales
volume during this period to 780.26 mscm over corresponding period of FY23.
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Indraprastha Gas has declined 0.35% to Rs 10421.69 crore.Operating profit
margin has jumped from 15.04% to 17.86%, leading to 18.31% rise in operating
profit to Rs 1,861.65 crore. Purchase of
finished goods cost fell from 73.09% to 69.67%. Employee cost increased from 1.35% to
1.55%. Other expenses rose from 10.52%
to 10.92%.
Other income rose 17.77% to Rs 161.9
crore. PBIDT rose 18.27% to Rs 2023.55
crore. Provision for interest fell
17.91% to Rs 6.6 crore.
PBDT rose 18.44% to Rs 2016.95 crore. Provision for depreciation rose 12.42% to Rs
303.07 crore.
Profit before tax grew 19.57% to Rs 1,713.88
crore. Share of profit/loss was 39.61%
higher at Rs 259.5 crore. Provision for
tax was expense of Rs 423.27 crore, compared to Rs 377.07 crore. Effective tax rate was 21.45% compared to
23.29%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 24.89% to Rs 1,551.28 crore.
Promoters’ stake was 45.00% as of 31 December
2023 ,compared to 45.00% as of 31 December 2022.
During 9MFY24, CNG sales volume has increased
by 4% to 1718.33 million standard cubic metres (mscm) and PNG sales volumes
increased 4% to 2290.25 mscm. On an overall basis there is 4% increase in sales
volume during this period to 2290.25 mscm over corresponding period of
FY23. The scrip is currently trading at Rs 405 on
the BSE.
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Indraprastha Gas : Consolidated
Results
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Particulars
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2312
(03)
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2212
(03)
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Var.(%)
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2312
(09)
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2212
(09)
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Var.(%)
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2303
(12)
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2203
(12)
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Var.(%)
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Net
Sales (including other operating income)
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3,556.19
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3,710.81
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-4
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10,421.69
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10,458.67
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0
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14,145.85
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7,709.96
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83
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OPM
(%)
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15.8
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11.6
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17.9
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15.0
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14.4
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24.4
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OP
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562.33
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428.47
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31
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1,861.65
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1,573.50
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18
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2,039.78
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1,881.11
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8
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Other
Inc.
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54.57
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55.74
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-2
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161.9
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137.47
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18
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202.91
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179.64
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13
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PBIDT
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616.9
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484.21
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27
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2,023.55
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1,710.97
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18
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2,242.69
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2,060.75
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9
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Interest
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1.77
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2.61
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-32
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6.6
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8.04
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-18
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10.59
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13.21
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-20
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PBDT
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615.13
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481.6
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28
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2,016.95
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1,702.93
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18
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2,232.10
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2,047.54
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9
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Depreciation
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101.91
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92.49
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10
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303.07
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269.59
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12
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363.36
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317.06
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15
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PBT
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513.22
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389.11
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32
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1713.88
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1433.34
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20
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1868.74
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1730.48
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8
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Share
of Profit/(Loss) from Associates
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85.75
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55.8
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54
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259.5
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185.87
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40
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253.63
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222.72
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14
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PBT
before EO
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598.97
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444.91
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35
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1973.38
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1619.21
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22
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2122.37
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1953.2
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9
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EO
Income
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0
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0
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-
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0
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0
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-
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0
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0
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-
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PBT
after EO
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598.97
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444.91
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35
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1973.38
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1619.21
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22
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2122.37
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1953.2
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9
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Taxation
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123.52
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110.85
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11
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423.27
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377.07
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12
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482.72
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450.93
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7
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PAT
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475.45
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334.06
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42
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1550.11
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1242.14
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25
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1639.65
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1502.27
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9
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Minority
Interest (MI)
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-1.17
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0
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-
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-1.17
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0
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-
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0
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0
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-
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Net
profit
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476.62
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334.06
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43
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1551.28
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1242.14
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25
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1639.65
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1502.27
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9
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EPS
(Rs)*
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#
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#
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#
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#
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23.4
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21.5
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Notes
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*
EPS is on current equity of Rs 140.00 crore, Face value of Rs 2, Excluding
extraordinary items.
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#
EPS is not annualised
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bps
: Basis points
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EO
: Extraordinary items
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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