Indraprastha Gas December profit dips 27% QoQ to Rs 392 crore

Indraprastha Gas Q3 results: Delhi-based natural gas distribution company Indraprastha Gas has reported a 27 per cent fall in its profit sequentially for the quarter ended December 2023. The company reported a profit of Rs 392 crore during Q3 FY24 as against Rs 535 crore during Q2 FY24.

The company reported revenue of Rs 3,556 crore during the said quarter, 2.8 per cent higher than Rs 3,458 crore reported in the year-ago period. In the December quarter, Indraprastha Gas' earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 562 crore, 14 per cent lower than Rs 656 crore reported in the year-ago period.

The shares of Indraprastha Gas fell 6.4 per cent to an intraday low of Rs 407.05 apiece on the NSE on Thursday, January 25, 2024.