Indraprastha Gas Q3 Results Review: Systematix Maintains 'Buy' On The Stock, Lowers Target Price — Here's Why

IGL witnessed double-digit growth from new geographical areas, while non-Delhi GAs grew at 8-9% and Delhi growth stood at 5%..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Indraprastha Gas Ltd. reported in-line Ebitda while net profit was propelled by higher-than-expected other income. Higher gas cost owing to the lower administered price mechanism allocation resulted in a sharp drop in Ebitda.On a volume front, total volume rose 7.4% YoY to 9.1 million metric standard cubic metre per day led by 5.9% increase in CNG volume (-1.1% QoQ) and 11.8%/7.5% YoY/QoQ increase in PNG volume.Both Domestic and I/C PNG sales rose sharply 16.8%/14.4% YoY (11.3%/8.8% QoQ) to 0.72 mmscmd/1.19 mmscmd. Gas cost increased 7.6% YoY (7.7% QoQ) to Rs 35.1/standard cubic metre resulting in Ebitda/scm declining to Rs 4.1, down 40.6% YoY/-33.5% QoQ (in-line with our estimate).Net revenue/Ebitda came in at Rs 37.4 billion/Rs 3.6 billion declined 35.5% YoY. Other income of Rs 1.2 billion helped PAT but still was down 27.1% YoY/-33.7% QoQ to Rs 2.9 billion..Click on the attachment to read the full report:.Petronet LNG Q3 Results Review — Nirmal Bang Upgrades The Stock To 'Buy' On Long Term Value.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Indraprastha Gas Q3 Results Review: Systematix Maintains 'Buy' On The Stock, Lowers Target Price — Here's Why

The brokerages expects the company to raise prices in Delhi post election which would benefit its margins.

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP