Indus Gas Reports Decline in Interim Financials Amid Gas Supply Disruptions

An update from Indus Gas ( (GB:INDI) ) is now available.

Indus Gas Limited’s interim financial report for the six months ending 30 September 2024 shows a significant decline in key financial metrics compared to the previous year. The company reported adjusted revenues of US$ 2.34 million, operating profit of US$ 1.24 million, and profit before tax of US$ 1.24 million, all substantially lower than the corresponding figures from 2023. The ongoing maintenance of the ultimate customer’s gas turbine has disrupted gas supply, leading to reduced off-take by GAIL, and the company is considering seeking additional funding. The gas sale price during the period fluctuated between US$ 8.90 and US$ 7.85 per MMBTU, reflecting revised domestic gas pricing guidelines.

More about Indus Gas

Indus Gas Limited is an oil and gas exploration and development company, operating primarily in the energy sector. The company focuses on the production and sale of natural gas, with its operations centered around fields such as SGL, SSF, and SSG, supplying gas to GAIL.

YTD Price Performance: -84.00%

Average Trading Volume: 102,967

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £21.96M

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