INDRAPRASTHA GAS: VOLUME GROWTH VERSUS PROFITABILITY

reported Q2 FY27 revenue of approximately ₹5,615 crore and net profit of ₹23.8 crore. For city gas distribution companies, revenue can be influenced by CNG and PNG volumes, gas sourcing costs, pricing decisions and competition from alternative fuels. What investors should monitor: - CNG sales volume growth - Domestic and commercial PNG demand - Gas procurement costs - Marketing margins - Regulatory developments and competition My view: Revenue growth is not sufficient on its own to establish a positive earnings outlook. The sharp difference between revenue scale and reported profit makes margin and cost analysis particularly important. Disclosure: This note represents my independent research assessment. I do not hold this stock. This is for informational purposes and should not be considered a recommendation to buy or sell.