1QFY21 results of IGL - Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd

"INDRAPRASTHA GAS LIMITED reported a weak set of numbers for the quarter ended Q1FY21. Gross sales from operations for Q1FY21 stood at ₹693 crores down by 60.3% YoY from ₹1,744 crores in Q1FY20. Due to continuous lockdown in Delhi city, there was very limited usage of PNG & CNG in commercial and domestic. Total sales volume down by 57% to 247 SCM million from 569 SCM million in Q1FY20. CNG sales volume down by 66% and PNG commercial sales down by 40%. EBITDA was down by 77% YoY to ₹83 Crores from ₹358 crores in Q1FY20. Profit after tax for the quarter stood at ₹32 Crore down by 85% from ₹218 Crore in Q1FY20. IGL has posted a weak set of numbers due to lower off take in demand from the commercial sector. We remain cautious on the sector as demand will be impacted by local lockdown."

Shares of INDRAPRASTHA GAS LTD. was last trading in BSE at Rs.406.9 as compared to the previous close of Rs. 413.55. The total number of shares traded during the day was 417732 in over 11572 trades.

The stock hit an intraday high of Rs. 417.4 and intraday low of 402.95. The net turnover during the day was Rs. 170361726.

Source : Equity Bulls

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