IGL shares soar 3% as Q2 profit rises 5% QoQ to ₹373 crore; board approves agreement with Saudi firm

The stock was trading 1.34% higher at ₹213.05 per equity share at around 12:02 pm.

The scrip has gained above 1% over the last five days but has lost nearly 2% over the month. It has risen close to 4.5% in the past six months. On a year-to-date basis, it advanced approximately 4%.

While the stock reached a 52-week low of ₹153.05 on November 21, 2024, it touched a year’s high of ₹229 per equity share on July 8, 2025.

IGL Q2 results

The company posted a 4.65% quarter-on-quarter (QoQ) increase in its standalone net profit to ₹372.51 crore during the quarter under review, compared to ₹355.94 crore in the first quarter of FY26.

However, the profit declined 13.59% annually from ₹431.09 crore in the September quarter of the 2024-25 fiscal year (Q2FY25), it said in a regulatory filing dated Wednesday.

The city gas distributor witnessed a 2.76% sequential rise in its revenue from operations to ₹4,445.89 crore for the September quarter of FY26, as against ₹4,326.60 crore in the previous quarter. It has surged 8.9% year-on-year (YoY) from ₹4,083.92 crore in the corresponding period of the last fiscal year.

During the quarter, the company generated ₹3,420.60 crore in net sales of CNG, reflecting a 9% annual growth from ₹3,146.64 crore in Q2FY25. Its net sales from PNG advanced 10% YoY to ₹1,009.96 crore, as compared to ₹918.91 crore. However, its net sales from PNG slumped 75% annually to ₹1.07 crore, from ₹4.28 crore.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹442.83 crore during the reporting quarter, marking a 17% YoY decline from ₹531.75 crore in the second quarter of FY25.

Its EBITDA margin contracted by 300 basis points (bps) annually to 11% in Q2FY26, from 14% in the year-ago period.

Board approves agreement with Saudi company

In a separate regulatory filing on November 12, the company said that its board of directors inter alia approved an alliance-cum-partnership agreement between IGL and MASAH Construction Company, Saudi Arabia.

The agreement was signed for participating in the pre-qualification for tender to obtain a license for the development of Natural Gas Distribution networks in various industrial cities of the Kingdom of Saudi Arabia (KSA).

IGL has a total market capitalisation of ₹29,806.03 crore, as of November 13, 2025, according to data on the NSE.