INDRAPRASTHA GAS Announces Quarterly Results (1QFY22); Net Profit Up 734.9%

Mon, 16 Aug

INDRAPRASTHA GAS has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

INDRAPRASTHA GAS Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	6,925	17,103	13,805	-19.3%	99.3%
Other income	Rs m	306	280	298	6.6%	-2.6%
Turnover	Rs m	7,232	17,383	14,103	-18.9%	95.0%
Expenses	Rs m	6,091	12,186	9,996	-18.0%	64.1%
Gross profit	Rs m	834	4,918	3,809	-22.6%	356.4%
Depreciation	Rs m	682	761	778	2.2%	14.1%
Interest	Rs m	24	36	29	-19.0%	24.1%
Profit before tax	Rs m	435	4,400	3,299	-25.0%	658.0%
Tax	Rs m	143	1,090	857	-21.4%	500.2%
Profit after tax	Rs m	293	3,310	2,443	-26.2%	734.9%
Gross profit margin	%	12.0	28.8	27.6
Effective tax rate	%	32.8	24.8	26.0
Net profit margin	%	4.0	19.0	17.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 99.3% on a year-on-year (YoY) basis. The expenses were up by 64.1% YoY during the same period.
• The company's operating profit increased by 356.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.6% in 1QFY22 as against 12.0% in 1QFY21.
• Depreciation charges increased by 14.1% and finance costs increased by 24.1% YoY, respectively.
• Other income declined by 2.6% YoY during the quarter.
• Net profit for the quarter increased by 734.9% YoY. Net profit margins during the quarter increased from 4.0% in 1QFY21 to 17.3% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 19.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.0% QoQ during the same period.
• The company's operating profit declined by 22.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.6% in 1QFY22 as against 28.8% in 4QFY21.
• Net profit for the quarter declined by 26.2% QoQ, while net profit margins declined from 19.0% in 4QFY21 to 17.3% in 1QFY22.

To see how INDRAPRASTHA GAS has performed over the last eight quarters,please visit here.

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INDRAPRASTHA GAS Share Price Performance

Over the last one year, INDRAPRASTHA GAS share price has moved up from Rs 388.0 to Rs 537.0, registering a Gain of Rs 149.1 or around 38.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,889.8 (up 0.9%). Over the last one year it has moved up from 13,189.1 to 15,889.8, a gain of 2,701 points (up 20.5%).

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 537.0, the price to earnings (P/E) ratio of INDRAPRASTHA GAS stands at 29.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.0 times.