The company's Profit after tax for this quarter is Rs. 144.27 crore over the PAT of Rs. 101.67 crore of Q2 of FY 16. The PAT is higher in the current quarter in view of higher sales volume/realizations, reduction in interest cost and higher other income over second quarter of FY 2015-16.

Other expenses have increased from Rs. 130.12 crore to Rs. 163.11 crore mainly due to a provision made for Rs. 16.67 crore in the current quarter for sites taken on lease from DDA for CNG stations for the period 1 April 2016 to ვ0th September 2016 towards increased rentals.

During Q2 of FY 17, volume of CNG sales has increased by 11%. There is decrease in PNG sales to industrial/commercial segment by 2% during the quarter mainly due to exceptionally higher sales in Q2 last year. PNG domestic segment has shown a growth of 7% as compared to the same quarter previous year. The NG segment has shown an increase of 44% in current quarter as compared to the same quarter previous year. Total PNG sales volumes have increased by 13% over Q2 of FY 16. On an overall basis, there is 12% growth in sales volume during this quarter over the corresponding quarter of FY 16.

Capex during April/September 16 has been around Rs. 100 crore.

The above results are standalone results for IGL only. IGL has 50% stake in CUGL and MNGL each. The combined profit of both the entities for Q2 201617 is approx. Rs. 42 crore and out of this IGL's share is Rs.21 crore.

Performance for the quarter ended September 2016

For quarter ended September 2016, Net sales of the company was flat at Rs 966.49 crore compared to corresponding previous year quarter. Operating margins of the company rose 490 bps to 25.3%. Purchase of natural gas as a percentage of net sales (net of stock adjustment) fell 900 bps to 55.3% while employee benefit expenses rose 70 bps to 2.5% and other expenses increased 340 bps to 16.9%. As a result operating profit of the company rose 23% to Rs 244.89 crore.

Other income of the company rose to Rs 21.08 crore compared to Rs 6.55 crore in Q2FY'16. Interest cost was nil compared to Rs 2.74 crore in the corresponding previous year period. Depreciation rose 4% to Rs 48.28 crore. PBT as a result rose 40% to Rs 217.69 crore. The effective tax rate fell 100 bps to 33.8% post, which the company's net profit was up 42% at Rs 144.18 crore.

Performance for the half year ended September 2016

For half year ended September 2016, Net sales of the company was flat at Rs 1866.15 crore compared to corresponding previous year quarter. Operating margins of the company rose 550 bps to 27%. Purchase of natural gas as a percentage of net sales (net of stock adjustment) fell 900 bps to 54.2% while employee benefit expenses rose 70 bps to 2.5% and other expenses increased 270 bps to 16.2%. As a result operating profit of the company rose 25% to Rs 504.53 crore.

Other income of the company rose to Rs 29.11 crore compared to Rs 12.13 crore in H1FY'16. Interest cost was nil compared to Rs 6.29 crore in the corresponding previous year period. Depreciation rose 3% to Rs 94.83 crore. PBT as a result rose 39% to Rs 438.81 crore. The effective tax rate fell 200 bps to 33.4% post, which the company's net profit was up 43% at Rs 292.19 crore.

The scrip is currently trading at Rs 840 on the BSE.