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Informist, Wednesday, Jul 24, 2024

--Indraprastha Gas Apr-Jun net profit 4.01 bln rupees 

--Analysts saw Indraprastha Gas Apr-Jun net profit 3.66 bln rupees 

--Indraprastha Gas Apr-Jun net profit 4.01 bln rupees vs 4.38 bln 

--Indraprastha Gas Apr-Jun revenue 38.91 bln rupees vs 37.62 bln 

By Sayantan Sarkar

NEW DELHI – Indraprastha Gas Ltd's net profit for Apr-Jun fell over 8% to 4.01 bln rupees, largely due to a rise in expenses. The company's bottomline was higher than the consensus estimate of 3.66 bln rupees. Sequentially, the net profit rose nearly 5%. 

Indraprastha Gas's revenue for the Apr-Jun period rose nearly 4% on year and fell 2% sequentially to 38.91 bln rupees. Analysts had estimated the company's revenue at 36.82 bln rupees for the June quarter. Indraprastha Gas primarily supplies piped natural gas to households for cooking and as auto fuel in the National Capital Region.

The company's total expenditure, including finance costs, was at 34.26 bln rupees in Apr-Jun compared with 32.21 bln rupees a year ago. In the previous quarter, the company's expenses were 35.55 bln rupees. The stock-in-trade purchases of the company were down at 24.82 bln rupees during Apr-Jun against 23.34 bln rupees a year ago. In the March quarter, the purchases of stock-in-trade were 25.53 bln rupees.  

Indraprastha's domestic sales volume of piped natural gas rose 16% on year to 60.87 mln standard cubic mtr during the reporting quarter. Sales volume of compressed natural gas in the period rose 5% on year to 587.12 mln cubic mtr. Total sales volumes, including piped natural gas and CNG increased 5% on year to 8.64 mln cubic mtr per day in Apr-Jun.

Additionally, total net sales, including piped natural gas and compressed natural gas, during the June quarter were 35.06 bln rupees, up 4% from the same quarter a year ago. 

The company's cash profits from operations or earnings before interest, taxes, depreciation, and amortisation for Apr-Jun declined by 9% to 5.82 bln rupees, but was above analysts' estimate of 5.27 bln rupees. The EBITDA margin fell to 17% for the period from 19% a year ago.

The company said it invested 88.8 mln rupees in its subsidiary, IGL Genesis Technologies Ltd, during Apr-Jun. Indraprastha holds a 51% share in IGL Genesis Technologies Ltd, which is involved in manufacturing, supplying, selling and distributing gas and other allied goods and services.  

Today, shares of Indraprastha Gas Ltd ended 2.8% higher at 548.80 rupees on the National Stock Exchange.  End

Edited by Akul Nishant Akhoury

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