IGL shares drop as Q2 EBITDA turns to loss, profit falls 89%
In short
IGL shares fell nearly 10% after its Q2 results showed EBITDA moved to a loss and profit dropped 89%. The company sold 10.06 million standard cubic metres of gas per day, a little above the 10 mmscmd estimate.
Sales volumes rose 3% from the last quarter and 7% from a year earlier. The report does not say how big the loss was or what caused the weak profit.
What the reporting says
IGL shares plunged nearly 10% after Q2 EBITDA swung to a loss and profit fell 89%, according to the headline and publisher summary. The company also reported total sales volumes of 10.06 million standard cubic metres per day, slightly above the 10 mmscmd poll estimate, with volumes up 3% sequentially and 7% year on year. The reporting does not state the revenue or loss figure behind the EBITDA swing.
Why it matters
IGL’s stock moved sharply lower after its Q2 update showed EBITDA swinging to a loss and profit declining 89%. The only operating detail in the summary is that sales volumes averaged 10.06 mmscmd, slightly ahead of estimates and higher sequentially and year on year. The report does not explain the loss drivers, so the operational beat did not offset the earnings disappointment.