Confidence Petroleum declines after Q4 PAT drops 48% YoY

Confidence Petroleum India slipped 3.41% to Rs 78.93 after the company's consolidated net profit declined 48.36% to Rs 9.92 crore in Q4 FY24 as compared with Rs 19.21 crore posted in Q4 FY23.

Revenue from operation fell 5.68% to Rs 630.54 crore in the fourth quarter of financial year 2024 as against with Rs 668.58 crore posted in the corresponding quarter last year.

Profit before tax was at Rs 18.95 crore in the March quarter, down 29.23% from Rs 26.78 crore recorded in Q4 FY23.

Total expense slipped 4.59% YoY to Rs 613.96 crore in Q4 FY24 over Q4 FY23. Cost of materials consumed stood at Rs 97.03 crore (up 40.86% YoY), employee benefit expenses stood at Rs 8.21 crore (up 71.39% YoY) and finance cost was at Rs 26.11 crore (up 132.29% YoY) during the period under review.

On segmental front, revenue from cylinder division was at Rs 98.59 crore (up 100.71% YoY) while revenue from LPG division stood at Rs 531.94 crore (down 14.12%) during the period under review.

On full year basis, the companys consolidated net profit jumped 25.22% to Rs 101.37 crore on 22.39% increase in revenue from operations to Rs 2,698.47 crore in FY24 over FY23.

Meanwhile, the board has declared a final dividend of Rs 0.10 per equity share for financial year 2023-24.

Confidence Petroleum India is a fully integrated LPG & CNG company. Its segments include LPG Cylinder Manufacturing and auto LPG and CNG dispensing stations.

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