Market enthused with IGL Q2

Immediately after the opening bell, Indraprastha Gas (IGL) was the top gainer on the BSE, going up over 5% to Rs.864.80. Its 52-week high is at Rs.896.40.

For Q2FY17, despite a flat total income – up less than 0.5% (YoY) at Rs.1067 crore, the company ended the quarter with a 41% jump in net profit at Rs.144 crore. This was thanks to the other income component of Rs.21 crore and 4.5% drop in total costs. There is also no interest outgo from FY17. Obviously the market is enthused with this performance and is reacting accordingly.

IGL’s EBITDA came in at Rs.245 crore, up 23.5% while margins spurted up from 18.6% to 22.9%. During the quarter its CNG sales volume rose 11% at 235 mkg while total PNG sales rose 13% at 102 mscm.

The company currently as a CNG compression capacity of 72.17 Lakh kg/day and has 418 stations. Its domestic customers number stands at 6,82,221 while commercial customers is at over 1642 and industrial at over 700.