Indraprastha Gas Q1 Preview: Net profit to rise 59% sequentially, lower APM gas price to boost margins, volumes
Indraprastha Gas Q1 Preview: Indraprastha Gas Limited (IGL) is likely to witness a rise in net profit for the April-June quarter on a quarter-on-quarter basis (QoQ) due to recovery in margins and volume. The leading city gas distributer's profit after tax (PAT) is likely to rise 59 per cent sequentially on improved earnings before interest, taxes, depreciation, and amortization (EBITDA) margins in the first quarter quarter of current fiscal, according to a report by JM Financial Services.
The gas company's margins and volumes is also likely to report a steady growth in the quarter-under-review due to reduction in administrative price mechanism (APM) gas prices, said JM Financials. In the preceding January-March quarter of fiscal 2022-23, IGL reported a net profit of ₹329.13 crore - a decline of eight per cent compared to ₹363.08 crore in the corresponding period last year.
At ₹3,687.2 crore, the company's revenue from operations registering a sharp increase of 53 per cent in the January-March quarter, compared to ₹3,711 crore in the year-ago period. THIS COPY IS BEING UPDATED
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