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?
This story is from the July 03, 2023 edition of Dalal Street Investment Journal.
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This story is from the July 03, 2023 edition of Dalal Street Investment Journal.
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