Stocks

Indraprastha Gas rises to near 2-month high after Q1 profit jump

Reuters Bengaluru | Updated on August 16, 2019 Published on August 16, 2019

The shares of Indraprastha Gas has risen 4.4 per cent to ₹330.5, their highest since June 21.

The city gas distributor posted a 24 per cent jump in its June-quarter profit to ₹218 crore ($30.56 mln) against ₹176 crore a year earlier, backed by higher sales volumes. Its revenue surged 22.5 per cent to ₹1,744 crore.

Around 3 million shares change hands vs a 30-day average of 1.9 million shares. Up to the last close, Indraprastha up 18 per cent this year, while peer Gujarat Gas, which posted a 92 per cent plunge in Q1 profit on July 30, up 41 per cent.

Published on August 16, 2019
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