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Mahanagar Gas hits new high on strong Q2 results

The stock hit a new high of Rs 828, up 7% on the NSE in early morning trade

SI Reporter  |  Mumbai 

Mahanagar Gas has hit a new high of Rs 828, up 7% on the National Stock Exchange (NSE) in early morning trade after reporting 41% year-on-year (YoY) growth in net profit at Rs 102 crore for the quarter ended September 30, 2016 (Q2FY17), due to lower raw material cost. The Mumbai-based natural gas distribution company had profit of Rs 72.57 crore in the corresponding quarter last year. Total income from operations however, declined by 3.2% at Rs 574 crore on YoY basis. The reduction in sales in mainly due to reduction in selling prices of both compressed natural gas (CNG) ...

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Mahanagar Gas hits new high on strong Q2 results

The stock hit a new high of Rs 828, up 7% on the NSE in early morning trade

The stock hit a new high of Rs 828, up 7% on the NSE in early morning trade Mahanagar Gas has hit a new high of Rs 828, up 7% on the National Stock Exchange (NSE) in early morning trade after reporting 41% year-on-year (YoY) growth in net profit at Rs 102 crore for the quarter ended September 30, 2016 (Q2FY17), due to lower raw material cost. The Mumbai-based natural gas distribution company had profit of Rs 72.57 crore in the corresponding quarter last year. Total income from operations however, declined by 3.2% at Rs 574 crore on YoY basis. The reduction in sales in mainly due to reduction in selling prices of both compressed natural gas (CNG) ... image
Business Standard
177 22

Mahanagar Gas hits new high on strong Q2 results

The stock hit a new high of Rs 828, up 7% on the NSE in early morning trade

Mahanagar Gas has hit a new high of Rs 828, up 7% on the National Stock Exchange (NSE) in early morning trade after reporting 41% year-on-year (YoY) growth in net profit at Rs 102 crore for the quarter ended September 30, 2016 (Q2FY17), due to lower raw material cost. The Mumbai-based natural gas distribution company had profit of Rs 72.57 crore in the corresponding quarter last year. Total income from operations however, declined by 3.2% at Rs 574 crore on YoY basis. The reduction in sales in mainly due to reduction in selling prices of both compressed natural gas (CNG) ...

image
Business Standard
177 22