Indraprastha Gas’ (IGL’s) Q1FY18 volume momentum remains intact‐ Q1 overall sales volume growth was at 13% YoY and 3%QoQ. Q1 EBITDA and PAT of Rs2.78bn (+7%YoY) and Rs1.61bn (+9% YoY), was in‐line with our estimates despite higher other expenses from wage revision and provision for land rentals of Rs220m.
Addition of buses to trigger CNG volume growth: As per budget 2016-17, the government planned to add total 3000 buses: 1,000 low-floor-non-AC buses, 1,000 buses under cluster scheme and another 1,000 buses in the premium category.
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