IGL profit plunges 89.2% to ₹25.9cr despite 11.6% revenue rise
Business
Indraprastha Gas Ltd. (IGL) just reported a massive 89.2% drop in profit for Q2 FY27 (down to ₹25.9 crore from ₹240.4 crore last year) even though its revenue actually went up by 11.6%.
The main culprit? Expenses shot up by over 40%, eating into all those gains.
IGL EBITDA turns negative ₹31.7cr loss
With costs rising so fast, IGL's core earnings (EBITDA) turned negative at a loss of ₹31.7 crore, a sharp swing from the preceding quarter's healthy profits.
Still, the company managed to boost total gas sales by 8%, with CNG and PNG usage both seeing solid growth, but investors weren't impressed as the stock closed lower on October 30.