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Good Q1 result boosts Indraprastha Gas

Capital Market 

Shares of Indraprastha Gas are trading with modest gains after the company announced good Q1 June 2019 result after market hours on Wednesday, 14 August 2019.

Meanwhile, the S&P BSE Sensex was down by 199.75 points, or 0.54% to 37,111.78.

Indraprastha Gas is currently trading higher by 1.41% to Rs 320.90. On the BSE, 14,000 shares were traded in the counter so far compared with average daily volumes of 1.05 lakh shares in the past two weeks. The stock has moved in a range of Rs 323.25 and Rs 316 so far during the day.

On a consolidated basis, Indraprastha Gas reported 31.14% rise in net profit to Rs 245.04 crore on 22.84% rise in the total income to Rs 1779.47 crore in Q1 June 2019 over Q1 June 2018. The company cited higher sales volume and higher gross margin as the reasons for the improvement in performance.

Indraprastha Gas said that product wise, CNG recorded sales of Rs.1340 crore, registering a growth of 25% and PNG recorded sales of Rs.398 crore registering a growth of 16% over previous year.

Indraprastha Gas is a city gas distribution company (CGD) incorporated in 1998. The company supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to the domestic, industrial and commercial sectors in Delhi and the NCR.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 16 2019. 09:22 IST
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