Product wise, CNG (Compressed natural gas) recorded sales of Rs. 944 crore, registering a 25% de-growth and PNG (piped natural gas) recorded sales of Rs. 355 crore also registering a 17% de-growth over previous year. Operating margins of the company rose 800 bps to 31.2%. As a result operating profit of the company rose 4% to Rs 407.12 crore.

Other income of the company fell to Rs 30.31 crore compared to Rs 38.96 crore in Q2FY'20. Interest cost was Rs 2.29 crore compared to Rs 1.81 crore in the corresponding previous year period. Depreciation rose 14% to Rs 71.11 crore. PBT as a result fell 1% to Rs 364.03 crore. Tax expense was Rs 12.42 crore compared to tax credit of Rs 5.74 crore. The company's net profit was down 6% at Rs 351.61 crore. Further considering share of profit of associate net profit fell 9% to Rs 380.45 crore

During Q2FY21, CNG sales volume has decreased by 20% to 255 million kgs and PNG sales volumes decreased by 4% over Q2 of FY20 to 146 MMSCM. On an overall basis there is 16% decrease in sales volume during this quarter to 506 MMSCM over corresponding quarter of FY20.

Performance for half year ended Sep20

For half year ended Sep20, Net sales of the company excluding excise duty fell 41% to Rs 1944.01 crore compared to corresponding previous year quarter.

Operating margins of the company rose 220 bps to 25.2%. As a result operating profit of the company fell 35% to Rs 490.56 crore.

Other income of the company fell 18% to Rs 60.94 crore compared to Rs 74.36 crore in H1FY'20. Interest cost was Rs 4.66 crore compared to Rs 3.44 crore in the corresponding previous year period. Depreciation rose 14% to Rs 139.28 crore. PBT as a result fell 42% to Rs 407.56 crore. The effective tax rate fell 980 bps to 6.5% post, which the company's PAT was down 35% at Rs 380.87 crore. Further considering share of profit of associate net profit fell 37% to Rs 415.63 crore

The scrip is currently trading at Rs 430 on the BSE.