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PL First Cut - IGL Q2FY24
Prabhudas Lilladher Pvt Ltd
Highlights
PL First Cut – IGL Q2FY24 – Swarnendu Bhushan – Co – Head of Research, Prabhudas Lilladher Pvt Ltd
PL First Cut – IGL Q2FY24 – Swarnendu Bhushan – Co – Head of Research, Prabhudas Lilladher Pvt Ltd
IGL Q2FY24 Result: Volumes grow 2.6% YoY
# IGL reported higher than expected EBITDA/PAT of Rs 6.6bn (+3%Q/Q; PLe: Rs 6.4bn) and Rs5.3 bn (21%Q/Q; PLe: Rs 4.4bn).
# Other income came in higher than estimated at Rs1.3bn (Ple: Rs 0.5 bn)
# EBITDA/scm came in at Rs 8.6/scm ( (Q1: Rs8.6/scm; PLe: Rs8/scm)
# However, volumes came in below estimates at 8.3 mmscmd (+1% Q/Q; PLe 8.7 mmscmd)
# CNG volumes increased 1% QoQ to 6.25 mmscmd while PNG volume was at 2.06 mmscmd (+1%Q/Q)
# On a YoY basis, CNG and PNG volumes grew 2.6% and 2.8%, respectively.
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