News: Revenue increased 55.2%YoY to Rs. 2405.9 crore in Q4FY22. Sales volume was 7.7 mmscmd, up 13.5% YoY. Gross margins fell Rs. 0.9/scm YoY to Rs. 12.6/scm as higher realisation was offset by higher gas costs. EBITDA was at Rs. 500.5 crore, up 1.8% YoY leading to PAT of Rs. 361.6 crore, up 9.2% YoY
Views: IGL's results were in line with estimates on profitability front. While sales volume was lower than estimated, gross margins were in line with expectations. IGL had hiked prices in Q4FY22 to pass on increase in gas costs. In the current quarter (Q1FY23E-TD), the company has further hiked prices post increase in APM gas costs. Volume growth coupled with steady margins will be important in the near term
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