IGL Q2 net profit plunges 93.83pc to Rs 23.75 crore despite revenue growth

New Delhi: Indraprastha Gas Ltd (IGL) has reported a sharp decline in profit, with consolidated net profit falling 93.83 per cent to Rs 23.75 crore for the quarter ended September 30, 2026, from Rs 384.95 crore in the year-ago period.

However, revenue from operations rose to Rs 5,615.38 crore from Rs 4,445.96 crore a year ago.

Total income increased to Rs 5,751.39 crore from Rs 4,540.86 crore in the year-ago period.

Average daily gas sales crossed the 10 million standard cubic metres per day (mmscmd) milestone for the first time, the company said. Average sales rose to 10.06 mmscmd in the July-September quarter from 9.31 mmscmd a year ago.

Gross sales turnover climbed to Rs 5,999.13 crore from Rs 4,431.63 crore, aided by higher sales volumes and increased gas prices.

During the quarter, compressed natural gas (CNG) sales volumes grew 9 per cent year-on-year, while piped natural gas (PNG) volumes rose 8 per cent, reflecting sustained demand from the transport and household segments.

Despite higher volumes and turnover, profitability came under significant pressure as rising gas procurement costs impacted margins.

The company operates city gas distribution networks across 34 districts in 11 geographical areas covering Delhi, Uttar Pradesh, Haryana and Rajasthan.

Shares of IGL settled 1.8 per cent lower at Rs 139.15 apiece on the BSE on Friday. The stock has touched a 52-week high of Rs 219 and a 52-week low of Rs 137.30.

In the near term, the stock fell 4.46 per cent in one month. Over the medium term, it declined 16.28 per cent in the past six months. On a yearly basis, the scrip has fallen 34.38 per cent and is down 41.20 per cent over five years.