Earnings Review
Indraprastha Gas PAT falls 14% YoY on higher gas costs
This story was originally published at 19:45 IST on 12 November 2025
Register to read our real-time news.Informist, Wednesday, Nov. 12, 2025
Please click here to read all liners published on this story
--Indraprastha Gas Jul-Sept net profit INR 3.73 bln
--Analysts saw Indraprastha Gas Jul-Sept net profit at INR 4.02 bln
--Indraprastha Gas Jul-Sept revenue INR 44.46 bln
--Analysts saw Indraprastha Gas Jul-Sept revenue at INR 40.64 bln
--Indraprastha Gas Jul-Sept net profit INR 3.73 bln vs INR 4.31 bln year ago
--Indraprastha Gas Jul-Sept revenue INR 44.46 bln vs INR 40.84 bln year ago
--Indraprastha Gas Apr-Sept net profit INR 7.28 bln vs INR 8.33 bln year ago
--Indraprastha Gas Apr-Sept revenue INR 87.72 bln vs INR 79.71 bln year ago
--Indraprastha Gas Jul-Sept EBITDA INR 4.43 bln vs INR 5.32 bln year ago
--Indraprastha Gas Jul-Sept EBITDA margin 11% vs 14% year ago
--Indraprastha Gas Jul-Sept total volumes 856.70 mscm vs 830.39 mscm year ago
--Indraprastha Gas Jul-Sept CNG volumes 640.80 mscm vs 623.65 mscm year ago
--Indraprastha Gas Q2 PNG domestic volumes 62.95 mscm vs 59.56 mscm year ago
--Indraprastha Gas Q2 PNG industrial volumes 106.75 mscm vs 100.41 mscm yr ago
By Sunil Raghu
AHMEDABAD – Indraprastha Gas Ltd.'s net profit for the September quarter fell from a year ago owing to a rise in the cost of natural gas purchases as the government reduced the volume of cheaper administered price mechanism natural gas allocated to city gas distribution companies. This has forced the gas distributors to look for costlier alternatives.
The September quarter was the sixth successive three-month period in which the company's revenue rose on year even as its net profit fell. This also happens to be the sixth successive quarter in which the company's natural gas purchase cost has risen on year.
Indraprastha Gas's profit after tax for the quarter fell nearly 14% on year to INR 3.73 billion. The net profit for the quarter was below analysts' estimate of INR 4.02 billion. The company's revenue from operations during the quarter rose nearly 9% on year to INR 40.23 billion.
The company's total expenses for the quarter, excluding excise duty, grew over 13% on year to INR 37.11 billion. Excise duty rose over 8% on year to INR 4.23 billion. The rise in the company's total expenses was because of higher natural gas prices. The value of purchase of stock-in-trade of natural gas during the September quarter rose over 16% on year to INR 31.42 billion.
Purchase of natural gas accounts for over four-fifths of the company's total expenses excluding excise duty. Employee benefit expenses for the quarter rose over 9% on year to INR 530 million. Depreciation and amortisation expenses rose over 8% on year to INR 1.28 billion while other expenses fell nearly 5% on year to INR 3.87 billion.
On a sequential basis, the company's net profit for the September quarter rose nearly 5% from INR 3.56 billion for the June quarter. The company's earnings before interest, taxes, depreciation, and amortisation for the reporting quarter was INR 4.43 billion, down 17% on year. Its EBITDA margin for the quarter stood at 11%, down from 14% a year ago.
SEGMENT-WISE PERFORMANCE
The company's compressed natural gas sales volume in the September quarter was 640.80 million standard cubic metres, up 3% on year. The CNG business contributes roughly three-fourths of the company's overall sales volume.
Piped natural gas sales volume for domestic users rose 6% on year to 62.95 million standard cubic metres while sales to industrial and commercial users also rose 6% on year to 106.75 million standard cubic metres. The volume of natural gas sold by Indraprastha Gas remained unchanged at 46 million standard cubic metres. Overall, the sales volume for the quarter ended Sept. 30 was 856.70 million standard cubic metres, up 3% on year.
Net of excise duty, the company's revenue from CNG sales rose nearly 9% on year to INR 29.98 billion in the September quarter. Revenue from PNG sales increased 10% on year to INR 10.10 billion.
Wednesday, shares of the company ended at INR 210.23 on the National Stock Exchange, up nearly 1% from Tuesday's close. The company announced its earnings after market hours. End
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
