Indraprastha Gas Limited (IGL) has reported a year-on-year (y-o-y) net profit surge of 29.47% to ₹552.67 crore ($73.6 million) for the second quarter of fiscal year 2024 (Q2FY24), reflecting a growth of 5.87% from its preceding quarter's profit. The announcement was made today, marking a significant improvement in the company's financial performance.
Despite a decline in y-o-y operational revenue and total income by 2.53% and 2.23%, respectively, amounting to ₹3,822.53 crore ($508.4 million) and ₹3,884.2 crore ($516.5 million), the operational revenue showed a quarter-on-quarter rise of 1.61%.
In addition to its financial results, IGL declared an interim dividend of ₹4 per share, providing an added return to its shareholders.
The company's stock ended trading Today at ₹381 ($5.07). This latest financial report provides a comprehensive overview of IGL's performance, including details on the growth from the preceding quarter, which were not included in previous summaries.
InvestingPro Insights
In light of the recent financial performance of Indraprastha Gas Limited (IGL), InvestingPro provides some crucial tips and data for potential investors. According to InvestingPro Tips, IGL yields a high return on invested capital and holds more cash than debt on its balance sheet, which is a healthy sign for any company. It's also worth noting that IGL has raised its dividend for six consecutive years, providing consistent returns for its shareholders.
As per InvestingPro's real-time data, the company's Price-to-Earnings (P/E) ratio as of Q3 2023 stands at -2.2, suggesting that the stock is currently undervalued. The PEG ratio, a metric that considers growth, is just 0.02, indicating that the company's earnings growth is robust compared to its P/E ratio. IGL's Price to Book ratio as of Q3 2023 is 0.42, which is relatively low and might indicate that the stock is undervalued.
For those seeking further insights and tips on IGL or any other company, InvestingPro offers an array of additional tips and metrics in its premium product. With InvestingPro, you can access 10 more relevant tips for IGL, helping you make a more informed investment decision.
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