Indraprastha Gas gains after decent Q4 results

Indraprastha Gas rose 1.50% to Rs 576 at 11:56 IST on BSE after net profit rose 12.27% to Rs 107.64 crore on 3.43% decline in net sales to Rs 881.57 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours on Friday, 13 May 2016.

Meanwhile, the BSE Sensex was down 102.26 points, or 0.40%, to 25,387.31.

On BSE, so far 24,000 shares were traded in the counter, compared with an average volume of 37,879 shares in the past one quarter. The stock hit a high of Rs 579 and a low of Rs 566.85 so far during the day. The stock hit a record high of Rs 607.50 on 11 January 2016. The stock hit a 52-week low of Rs 376 on 9 June 2015. The stock had underperformed the market over the past one month till 13 May 2016, falling 1.15% compared with 0.54% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.66% as against Sensex's 10.89% rise.

The mid-cap company has an equity capital of Rs 140 crore. Face value per share is Rs 10.

Indraprastha Gas' net profit declined 4.92% to Rs 416.20 crore on 0.10% rise in net sales to Rs 3673.72 crore in the year ended March 2016 over the year ended March 2015.

On a consolidated basis, the company's net profit rose 3.6% to Rs 464.13 crore on 0.1% rise in net sales to Rs 3673.72 crore in the year ended March 2016 over the year ended March 2015.

Indraprastha Gas retails CNG to automobiles and piped cooking gas to households in Delhi and adjoining cities of Ghaziabad, Noida and Greater Noida.

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