New Delhi, Aug 13 (IANS) Indraprastha Gas Limited (IGL) on Thursday reported a 33 per cent decline in profitability for the first quarter of the current financial year (Q1 FY27).
The city gas distributor posted a net profit of Rs 186 crore in the June quarter, down 32.9 per cent quarter-on-quarter (QoQ) from Rs 277 crore reported in the preceding quarter (Q4 FY26), according to its stock exchange filing.
Revenue from operations, however, rose 10.1 per cent sequentially to Rs 4,583 crore in Q1 FY27, compared with Rs 4,163 crore in the previous quarter.
At the operating level, the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) declined 30.3 per cent to Rs 295 crore from Rs 423 crore in the earlier quarter.
The weaker operating performance also weighed on margins. IGL’s EBITDA margin contracted to 6.4 per cent in the June quarter from 10.2 per cent in the preceding quarter, as per its regulatory filing.
Following the earnings announcement, investor sentiment remained subdued. Shares of Indraprastha Gas were trading about 1 per cent lower at Rs 152.90 apiece at around 2:40 pm on Thursday.
In comparison, the Sensex was trading largely flat with a negative bias at 77,918.06.
Over the last five days, the company’s stock has declined by 1.35 per cent, or Rs 2.07. Over the past month, the stock fell 0.86 per cent, or Rs 1.31.
Over the last six months, the company’s shares have declined by 8.88 per cent, or Rs 14.79. On a year-to-date basis, the stock has fallen 20.94 per cent, or Rs 40.20.
Over the past year, the company’s shares have dropped 26.45 per cent, or Rs 54.49.
Meanwhile, earlier this year, the gas distributor announced a fresh increase in compressed natural gas (CNG) prices, marking the fourth hike in less than two weeks.
CNG prices in Delhi have been hiked by Rs 2 per kg on May 26. Following the latest revision by IGL, CNG in Delhi will now cost Rs 83.09 per kg, up from Rs 81.09 per kg.
–IANS
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