Gas distribution company IGL on Friday reported a year-on-year jump of nearly eight times in standalone net profit to Rs 244.29 crore for the quarter ended June 30, missing Street estimates. For the corresponding period a year ago, the company had posted a net profit of Rs 31.84 crore.

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IGL's revenue grew nearly doubled to Rs 1,257.39 crore in the April-June period, from Rs 638.57 crore in the year-ago period, according to a regulatory filing.

The company's earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs 380.8 crore in the first quarter of the current financial year, as against Rs 492 crore in the corresponding period a year ago.

IGL's EBITDA margin came in at 30.3 percent, as against 31.7 percent in the quarter ended March 31.

Analysts in a CNBC-TV18 poll had estimated the company's net profit at Rs 267 crore over revenue of Rs 1,338 crore. They had estimated its EBITDA in Q1 at Rs 392 crore and the EBITDA margin at 29.3 percent.

IGL's total expenses rose 58.97 percent to Rs 1,080.38 crore, from Rs 679.63 crore in the year-ago period.

Its total volumes came in at 5.32 mmscmd in the quarter ended June 30, 2021, as against 5.32 mmscmd in the three months to June 30, 2020. The volumes missed the estimate of 5.60 mmscmd by the analysts.

IGL shares ended 0.49 percent lower at Rs 534 apiece on BSE ahead of the earnings announcement, underperforming the headline Sensex index, which surged 1.08 percent to a record closing high.

First Published:Aug 13, 2021 4:38 PM IST