Indraprastha Gas Q4 Review - Second Wave A Headwind To FY22 Outlook: ICICI Securities
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Indraprastha Gas Ltd.’s Q4 FY21 standalone earnings per share was up 31% YoY driven by margin increase due to price hikes in compressed natural gas and piped natural gas; volumes were up QoQ and YoY.
FY21 standalone recurring earnings was down 6% YoY despite 18% YoY rise in margin, hit by 17% YoY volume fall.
Consolidated Q4 earnings rise was less steep than standalone at 29% due to 9% YoY fall in share of profit of associates.
Factoring in the impact on Q1 volumes due to lockdown has meant cut in FY22E volume estimate by 4%.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.