In Q4FY23, the company’s revenue registered a strong growth of 53 per cent on a YoY basis while the net profit declined by 8 per cent from the corresponding quarter last year. What were the contributing factors for such a performance?
In Quarter-4 of FY 22-23, a growth of 53 per cent in the IGL's revenue over the corresponding quarter of last year was attributable to volume growth of 7% and the rest to the price increase. However, against the average increase of approx. ₹15.02 per scm in prices, there was an average increase of approx. ₹15.82 per scm in the gas cost leading to a decrease of 6 per cent in average gross margin per scm. Besides there was an increase of approx. 13 per cent in operating expenses including depreciation in Q4 FY22-23 w.r.t Q4 FY21-22.
Consequently, net profit declined by 8.81 per cent in Q4 22-23 w.r.t Q4 21-22.
What were the key factors that contributed to the growth of the company's CNG sales in the March quarter, which witnessed a remarkable increase of more than 55 per cent compared to the same quarter in the previous year?
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