Indraprastha Gas Ltd Share Price – NSE  /  BSE

Gas Distribution, Small Cap

Indraprastha Gas Ltd gained 3.25% today to trade at Rs 437.3. The S&P BSE Oil&Gas index is up 0.71% to quote at 28452.51. The index is up 1.5 % over last one month. Among the other constituents of the index, Bharat Petroleum Corporation Ltd increased 1.24% and Hindustan Petroleum Corporation Ltd added 1.18% on the day. The S&P BSE Oil&Gas index went up 62 % over last one year compared to the 26.28% surge in benchmark SENSEX.

Indraprastha Gas Ltd has lost 0.6% over last one month compared to 1.5% gain in S&P BSE Oil&Gas index and 2.72% rise in the SENSEX. On the BSE, 5659 shares were traded in the counter so far compared with average daily volumes of 74761 shares in the past one month. The stock hit a record high of Rs 515.55 on 09 May 2023. The stock hit a 52-week low of Rs 375.8 on 01 Nov 2023.

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Further, the company has already empaneled two other partners for the same purpose.

The biogas produced from these 19 plants shall be fed into IGL’s city gas distribution network.

This partnership aims to produce 0.45 MMSCMD (million metric standard cubic meters per day) of biogas from waste, equivalent to approximately 5% of IGL's daily requirements,” the company said in a statement.

Indraprastha Gas is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.

The company’s consolidated net profit declined 13.97% to Rs 475.45 crore in Q3 FY24 as against Rs 552.67 crore recorded in Q3 FY23. Revenue from operations rose 2.82% quarter on quarter to Rs 3556.19 crore in the December quarter.

The scrip rose 0.31% to currently trade at Rs 450.75 on the BSE.

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Indraprastha Gas (IGL) has signed Memorandum of Understanding (MOU) with two technology partners during India Energy Week 2024 to establish Compressed Biogas (CBG) plants across four states: Delhi, Haryana, Rajasthan, and Uttar Pradesh. Additionally, IGL has already empaneled two other partners for the same purpose. The biogas produced from these 19 plants shall be fed into IGL's City Gas Distribution network.

This partnership aims to produce 0.45 MMSCMD (Million Metric Standard Cubic Meters per Day) of biogas from waste, equivalent to approximately 5% of IGL's daily requirements.

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Net profit of Indraprastha Gas rose 42.67% to Rs 476.62 crore in the quarter ended December 2023 as against Rs 334.06 crore during the previous quarter ended December 2022. Sales declined 4.17% to Rs 3556.19 crore in the quarter ended December 2023 as against Rs 3710.81 crore during the previous quarter ended December 2022.

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