New Delhi: Indraprastha Gas Limited (IGL) reported its unaudited financial results for the quarter ended June 30, 2026, with a strong increase in revenue but a sharp decline in profitability.
The company’s standalone revenue from operations rose 16% year-on-year to Rs 5,040.15 crore, compared with Rs 4,326.60 crore in Q1 FY26. However, standalone net profit fell 48% to Rs 186.18 crore from Rs 355.94 crore in the corresponding quarter.
The results were approved by IGL’s Board of Directors at a meeting held on August 13, 2026.
IGL Revenue Rises 16% in Q1 FY27
IGL recorded strong growth in its top line during the June 2026 quarter.
Standalone revenue from operations increased to Rs 5,040.15 crore, while total income stood at Rs 5,143.29 crore.
However, the increase in revenue did not translate into higher profitability as rising natural gas purchase costs and other expenses put pressure on margins.
The company’s key standalone financial figures were:
- Revenue from operations: Rs 5,040.15 crore, up 16%
- Total income: Rs 5,143.29 crore
- Profit before tax: Rs 259.92 crore, down from Rs 475.80 crore
- Net profit: Rs 186.18 crore, down 48%
- EPS: Rs 1.33, compared with Rs 2.54
- EBITDA: Rs 295.50 crore, down 42% from Rs 511.75 crore
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Gas Sales Volume Grows 6%
IGL recorded growth across its key gas distribution segments during Q1 FY27.
Total sales volume increased 6% to 878.98 million SCM, compared with 830.87 million SCM in Q1 FY26.
The volume performance included:
- CNG: 656.82 million SCM, up 6%
- Domestic PNG: up 7%
- Industrial and Commercial PNG: up 4%
- Total PNG: 221.85 million SCM, up 4%
- LNG: 0.31 million SCM, up 82%
The increase in sales volumes, along with better realisations, supported the company’s revenue growth during the quarter.
Higher Gas Costs Put Pressure on Profit
Despite the 6% increase in total volumes and 16% growth in revenue, IGL’s operating profitability declined sharply.
Standalone EBITDA fell 42% to Rs 295.50 crore from Rs 511.75 crore in Q1 FY26.
The EBITDA margin consequently declined to around 6% from 13%, representing a significant contraction in operating margins.
The pressure was mainly attributed to a sharp rise in natural gas purchase costs and other expenses, which offset the benefit of higher sales volumes and revenue.
Net sales, after excise duty, increased 17% to Rs 4,571.16 crore.
Consolidated Net Profit Falls 44%
IGL’s consolidated performance also weakened during the quarter.
Consolidated revenue increased 17% to Rs 5,043.44 crore, while consolidated net profit declined 44% to Rs 237.92 crore from Rs 427.81 crore in Q1 FY26.
The company’s share of profit from associates, including Maharashtra Natural Gas Limited and Central U.P. Gas Limited, stood at Rs 56.83 crore, compared with Rs 74.77 crore in the year-ago quarter.
The lower contribution from associates further weighed on consolidated profitability.
IGL Genesis Technologies Reports Loss
IGL’s subsidiary IGL Genesis Technologies Limited, in which IGL holds a 51% stake, reported a net loss after tax of Rs 5.09 crore during the quarter.
IGL’s share of the subsidiary’s loss stood at Rs 2.60 crore.
The company’s total investment in the subsidiary was Rs 34.46 crore as of June 30, 2026.
DDA Licence Fee Demand Remains Contingent Liability
IGL continues to account for a long-pending demand from the Delhi Development Authority (DDA) as a contingent liability.
The demand amounts to Rs 330.73 crore, excluding interest, and relates to an increase in licence fees.
The Delhi High Court disposed of the matter on March 11, 2026, and referred it to the AMRCD mechanism.
IGL has also submitted a representation to the Ministry of Petroleum and Natural Gas seeking parity with oil marketing companies. The company maintains that the demand is not tenable and has therefore continued to disclose it as a contingent liability.
Board Approves Q1 FY27 Financial Results
The Board of Directors approved IGL’s unaudited financial results for the quarter ended June 30, 2026, at its meeting on August 13, 2026.
The meeting was held from 12:00 noon to 1:40 PM.
The statutory auditors, PSMG & Associates, carried out a limited review and issued an unmodified conclusion on the financial results.
What IGL Q1 FY27 Results Show
IGL’s Q1 FY27 performance highlights a clear divergence between volume and revenue growth and profitability.
While gas sales volumes increased 6% and revenue rose 16%, the sharp increase in costs resulted in a substantial decline in EBITDA and net profit.
The key numbers show:
- Revenue from operations: +16%
- Total gas volume: +6%
- EBITDA: -42%
- Standalone net profit: -48%
- Consolidated net profit: -44%
- EBITDA margin: 6% vs 13%
The results indicate that cost pressures remained a major challenge for IGL despite steady demand for CNG and PNG.
About IGL
Indraprastha Gas Limited is one of India’s leading city gas distribution companies engaged in supplying natural gas to households, industries, and the transport sector. The company plays a key role in promoting cleaner energy solutions through its expanding CNG and PNG infrastructure across major regions.
