IGL's volumes declined marginally YoY to 6.2 mmscmd during the quarter on account of CNG volume de-growth. CNG sales volume fell 2.5% YoY to 4.5 mmscmd (our estimate: 4.3 mmscmd) due to travel restrictions imposed in the last week of March. On the PNG front, volumes increased 4.9% YoY to 1.7 mmscmd in line with our estimates. Domestic PNG segment reported 17% YoY growth while industrial/commercial PNG segment grew 9% YoY. CNG & industrial/commercial PNG volumes in H1FY21E are likely to stay subdued due to extended lockdown in April & May. We estimate volume...