IGL Indraprastha Gas Q2 FY26 results (Jul–Sep 2025) and concall
IGL reported a quarter of resilient volume growth despite structural headwinds from the Delhi Transport Corporation's (DTC) transition to electric vehicles. While margins were compressed by a shift in the gas sourcing mix toward more expensive RLNG (37% vs 25% previously), management is optimistic about a recovery to ₹7-₹8 per SCM margins. This recovery is expected to be driven by tax rationalization, unified tariffs, and a significant strategic pivot into the Saudi Arabian industrial gas market.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
What they filed
Q2 FY26: revenue up 8.8%, net profit down 13.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 3,697 | 3,759 | 3,947 | 3,914 | 4,023 +9% |
| EBITDA | 536 | 364 | 494 | 512 | 443 −17% |
| Net profit | 431 | 286 | 349 | 356 | 373 −13% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
