Oct 19, 2016 01:34 PM IST IST | Source: Moneycontrol.com

Indraprastha Gas Q2 PAT seen up 7.9% to Rs 159.8 cr: Religare

Net Sales are expected to increase by 5.2 percent Q-o-Q (down 2.3 percent Y-o-Y) to Rs 943.4 crore, according to Religare.

Religare has come out with its second quarter (July-September) earnings estimates for the India Energy sector. The brokerage house expects Indraprastha Gas to report net profit at Rs 159.8 crore, up 7.9 percent quarter-on-quarter.

Net Sales are expected to increase by 5.2 percent Q-o-Q (down 2.3 percent Y-o-Y) to Rs 943.4 crore, according to Religare.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 4.8 percent Q-o-Q (up 43.2 percent Y-o-Y) to Rs 269.2 crore.

Religare's report on Indraprastha Gas

Earnings to improve to Rs 1.6bn (+57% YoY, +8% QoQ) driven by higher growth in CNG volumes. CNG volumes to improve 10% YoY (+5.5% QoQ) and PNG volumes 8% YoY (+4.3% QoQ). Higher CNG volume growth could lead to a marginal improvement in unit EBITDA to Rs 6.6/scm.

We see at least a 10% growth in earnings over FY17-FY19E as management guides for a sustained >10% growth in CNG volumes.

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