Indraprastha Gas reported 23.07% fall in Sep-20 quarter top line sales revenues yoy at Rs1,440.74cr. Indraprastha supplies piped gas to the capital city of Delhi and its agglomerations and there was a sharp fall in the consumption and demand in the Jun-20 quarter, which is evident from the top line numbers.
For the Sep-20 quarter, the operating profits were up by 1.67% at Rs336.01cr on the back of costs falling quicker than the sales revenues. On a much smaller revenue base, this resulted in operating margin expanding from 17.65% in Sep-19 quarter to 23.32% in Sep-20 quarter.
Profit after tax (PAT) for the Sep-20 fell by 8.51% to Rs380.45cr on the back of higher impact of taxes compared to Sep-19 quarter and lower profits from associate companies. Despite the fall in PAT the actual PAT margins improved from 22.20% in Sep-19 quarter to 26.41% in the Sep-20 quarter on the back of lower base of sales revenues.
Financial highlights for Sep-20 compared yoy and sequentially
|
|
Indraprastha Gas |
|
|
|
|
Rs in Crore |
Sep-20 |
Sep-19 |
YOY |
Jun-20 |
QOQ |
|
Revenues |
1,440.74 |
1,872.83 |
-23.07% |
692.53 |
108.04% |
|
Operating Profit |
336.01 |
330.50 |
1.67% |
15.27 |
2100.46% |
|
Profit After Tax (PAT) |
380.45 |
415.82 |
-8.51% |
35.18 |
981.44% |
|
|
|
|
|
|
|
|
Diluted EPS (Rs) |
₹ 5.44 |
₹ 5.94 |
|
₹ 0.50 |
|
|
Operating Margins |
23.32% |
17.65% |
|
2.20% |
|
|
PAT Margins |
26.41% |
22.20% |
|
5.08% |
|
Key takeaways from the Sep-20 quarter results
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During the COVID pandemic, the government had notified gas supply as an essential service which could continue unhindered. However, due to the virtual halt on vehicular movement on the streets of the capital, the demand for gas came down sharply. That has largely recovered in the Sep-20 quarter.
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