IGL posts 9% Q2 FY25 sales growth, announces 275% interim dividend

04 Nov 2024 CW Team

Indraprastha Gas (IGL), India’s largest CNG distributor, reported a 9% increase in overall sales volume for the second quarter of FY25, with average daily sales rising from 8.30 million metric standard cubic meters per day (mmscmd) to 9.03 mmscmd. The company’s Board announced an interim dividend of 275%, equating to Rs 5.50 per share.

According to the unaudited results for the quarter ending September 2024, both CNG and PNG segments recorded a 9% growth in sales volumes compared to the same period last year. Domestic PNG saw a 12% increase in sales volume, while the industrial and commercial PNG segment expanded by 11% over Q2 of FY24.

IGL’s total gross sales value for the quarter rose to Rs 40.69 billion, marking a 7% increase from Rs 38.04 billion in the previous quarter. Profit after tax (PAT) for Q2 FY25 increased sequentially by 7.4%, reaching Rs 4.31 billion, compared to Rs 4.01 billion in Q1 FY25. However, PAT showed a decline compared to Rs 5.34 billion in Q2 FY24, primarily due to a significant rise in input gas costs.

In its financial report, the company noted that these results reflect IGL’s standalone performance and do not include profits from associate companies.

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