Indraprastha Gas gains as Q2 PAT rises 4% YoY

Indraprastha Gas (IGL) jumped 5.99% to Rs 406.30 after the company reported 4% rise in consolidated net profit to Rs 416.15 crore on a 94% jump in net revenue from operations to Rs 3,554.01 crore in Q2 FY23 over Q2 FY22.

EBIDTA was marginally lower to Rs 527.52 crore in Q2 FY23 from Rs 530.18 crore in Q2 FY22. EBIDTA margin slipped to 15% in Q2 FY23 as against 29% in Q2 FY22.

Total volumes rose by 12% to 744.17 million in Q2 FY23 from 665.69 million in Q2 FY22. CNG sales volume stood at 560.25 SCM million (up 15% YoY) while total PNG sales volume aggregated to 183.92 SCM million (up 3% YoY) during the period under review.

Meanwhile, the company appointed Sukhmal Kumar Jain as additional director and chairman with effect from 23 October 2022, following the cessation of Arun Kumar Singh as chairman and director from the same day.

Indraprastha Gas is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.

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