IGL shares rise 2% as Q1 profit falls 11% YoY; strong ops and gas cost savings support sentiment.

• Revenue rose 11.3% YoY in Q1; profit beat J.P. Morgan estimates by 9% despite overall decline.
• Morgan Stanley sees stable operations; suggests 3–4% price hike needed to sustain profitability.
• Analysts are largely bullish; 30 rate it “buy” with a median target of Rs 220 despite a 0.4% YTD drop.