The indraprastha gas distributor’s revenue growth remained flat during the March quarter while net profit rose 12.4% compared to the previous year.
Ebitda increased by 13.8% while Ebitda margin expanded to 24.3% from 21.5%.
The company reported a 1% volume growth during the quarter at 564 million scm.
The board has also recommended a dividend of Rs 2.8 per share.
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Brokerage firm Nomura has maintained a buy rating on the stock with a price target of Rs 575. The note says that the company has a strong long-term outlook and it can re-rate further as well.
Shares fell as much as 4.6% to Rs 452.3 and are down for the second straight day.