IGL board set to meet on December 10 to consider bonus shares

Natural gas distribution firm Indraprastha Gas (IGL) said on Wednesday that its board will meet on December 10 to consider bonus shares, among other matters.

The ratio of the proposed bonus issue, if it materialises, may be fixed subject to shareholders' approval, according to the company. 

"Trading window for dealing in the shares of the Company will remain closed with effect from December 04, 2024, till the expiry of 48 hours from declaration of outcome of the aforesaid Board Meeting," IGL said in a regulatory filing post-market hours. 

Earlier on Wednesday, IGL shares ended 0.2 per cent lower at Rs 360.3 apiece on BSE, in contrast to mild gains in headline indices. 

If such a bonus materialises, it won't be the first time the company will be rewarding its shareholders. 

IGL has been paying dividends regularly to its shareholders.

Here is a summary of IGL's dividends announced in the past five years: 

IGL Q2 FY25 Results 

In October, IGL reported a 7 per cent sequential increase in its standalone net profit to Rs 431 crore with 5 per cent growth in revenue to Rs 4,088 crore for the September quarter. 

Its margin contracted by 200 bps to 14.5 per cent on a quarter-on-quarter basis. 

According to Zee Business research, IGL was estimated to log a net profit of Rs 433 crore, revenue of Rs 3,607 crore and margin of 16.5 per cent for the fiscal second quarter. 

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