India's Indraprastha Gas rises as strong volumes offset margin concerns

Indraprastha Gas

19/05/2026 06:05

** Shares of India's Indraprastha Gas IGAS.NS jump 3.45% to 156.87 rupees, set to snap three sessions of losses, if trend holds

** The gas distribution company reported a 20.7% y/y decrease in profit to 2.77 billion rupees ($28.76 million) while revenue rose 6% year-on-year

** Nomura ("buy", TP: 225 rupees) says quarterly volumes beat estimates despite margin pressure from higher raw material costs

** Brokerage says recent CNG and domestic PNG price hikes should help offset rising gas costs and rupee depreciation in coming quarters

** Domestic PNG volumes grew 13% y/y, while overall volumes rose 6%, per Nomura

** IGAS rated "buy" on avaerage by 30 analysts, median PT at 215.50 rupees - LSEG-compiled data

** YTD, Indraprastha stock down 22.06%

($1 = 96.3050 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))