Indraprastha Gas shares slip 6% post Q3 earnings; check details

Shares of Indraprastha Gas Ltd (IGL) slipped 6% in the afternoon session after the firm reported a 42% rise in consolidated net profit in Q3 from the year-ago period.

Indraprastha Gas shares slipped 6% to Rs 409 against the previous close of Rs 434.75 on BSE. Market cap of the firm fell to Rs 28,773 crore. The stock opened higher at Rs 436.55. Indraprastha Gas stock has lost 2.60% this year and fallen a percent in the last one year.

Total 2.28 lakh shares of the firm changed hands amounting to a turnover of Rs 9.59 crore on BSE.

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Net profit rose to Rs 475.45 crore in the December 2023 quarter against Rs 334.06 crore in the December 2022 quarter.

Consolidated revenue from operations slipped 4 percent to Rs 3926.19 crore in the last quarter against Rs 4089.03 crore in the year-ago period.

On a sequential basis, net profit fell 14% from Rs 552.67 crore. Profit before tax climbed to Rs 598.97 crore in Q3 against Rs 444.91 crore in the year ago period. Earnings per share (EPS) surged to Rs 6.79 per share in the last quarter against Rs 4.77 per share in the December 2022 quarter.

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