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Indraprastha Gas Ltd announces Q2 FY19 results

Posted On: 2018-11-06 08:21:38

During 02 of FY19, CNG sales volume has increased by 13% and PNG sales volumes increased by 14% over 02 of FY18. On an overall basis there is 13% increase in sales volume during this quarter over corresponding quarter of FY18.

Total gross sales value during this quarter is Rs. 1564 crores registering a growth of 28% over sales turnover of Rs. 1227 crores shown in 02 of FY18. Product wise, CNG recorded sales of Rs. 1174 crores, registering a growth of 24% and PNG recorded sales of Rs. 390 crores registering a growth of 40% over previous year.

Total comprehensive income for this quarter is Rs. 187.23 crores against total comprehensive income of Rs. 168.61 crores of 02 of FY18 showing a growth of 11 % over last year which is higher in current quarter compared to same quarter last year in view of higher sales volume and higher other income over 02 of FY 2017-18.

Increase in operating expenses during the quarter is mainly due to the following:

i) Increase in power & fuel expenses due to increase in sales volume of CNG at IGL & OMC stations in current quarter.

ii) Increase in AMC cost of Compressors & Dispensers.

The earning per share has been Rs. 2.68 per share during this quarter against Rs. 2.41 * per share in 02 of FY18.

The above results are standalone results for IGL only. IGL has 50% stake in CUGL and MNGL each. The combined profit of both the entities for 022018-19 is approx. Rs. 47 crores and out of this IGL's share is Rs. 23.5 crores.

*The shareholders of the Company in their annual general meeting held on 28 September 2017 approved sub-division of each equity share having a face value of Rs. 10 into five equity shares having a face value of Rs. 2 each. The record date for the sub-division was 10 November 2017. Accordingly, each equity share having face value of Rs. 10 each was sub-divided into five equity shares of Rs. 2 each and per share information in the above financial results have been restated to reflect the effect of this SUb-division for each of the periods presented.

Shares of INDRAPRASTHA GAS LTD. was last trading in BSE at Rs.283.6 as compared to the previous close of Rs. 282. The total number of shares traded during the day was 240068 in over 4193 trades.

The stock hit an intraday high of Rs. 288.9 and intraday low of 278.35. The net turnover during the day was Rs. 67924806.

Source: Equity Bulls

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