Indraprastha Gas Ltd's Q1FY19 standalone net profit rises 9.07% yoy to Rs175.89cr: In-line with Estimates

The company’s standalone revenue stood at Rs1,287.40cr, up 24.07% yoy.

Aug 10, 2018 01:08 IST India Infoline Research Team

Indraprastha Gas Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 1,287.40 24.1
EBITDA 295.05 6.4
EBITDA Margin (%) 22.9 [380]
Net Profit (adjusted) 175.89 9.1
***EBITDA margin change is bps

Indraprastha Gas Ltd's reported Q1FY19 results were in-line with the estimates. Net revenue grew 24.1% yoy to Rs1287.4cr against Rs1037.68cr in Q1FY18, in-line with the estimate (Rs1300cr). EBITDA for the quarter grew 6.4% yoy to Rs295.05cr against Rs277.31cr, also in-line with the estimate (Rs295cr). EBITDA margin declined 380bps yoy to 22.9%. Net profit for the quarter grew 9.1% yoy to Rs175.89cr against Rs161.26cr last year, due to higher sales volumes and higher other income.

• During Q1FY19, CNG sales volume increased 10% yoy to 273 mn kg.
• PNG domestic segment registered growth of 10% to 27 mmscm as compared to the same quarter in the previous year.
• Overall PNG sales volumes have increased 18% yoy to 129 mmscm
• CNG recorded sales of Rs1076cr, registering a growth of 21% yoy and PNG recorded sales of Rs342cr, a growth of 34% yoy.
• In the ongoing CGD bidding, IGL has won the CGD authorization for Meerut (except areas already authorized), Muzaffarnagar, and  Shamali Districts.

Technical View:

Indraprastha Gas Ltd ended at Rs298.25, down 5.2 points, or 1.71%, from its previous close of Rs303.45 on the BSE. The scrip opened at Rs306 and has touched a high and low of Rs311.95 and Rs290, respectively. A total of 61,79,982 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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