Mahanagar Gas (MGL) rose 3.55% to Rs 1029 after net profit jumped 24.8% to Rs 166.59 crore on 5% fall in net sales to Rs 686.55 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax (PBT) rose 9.7% to Rs 224.72 crore in Q4 FY20 from Rs 204.86 crore in Q4 FY19.
The profit was aided by lower total expenditure (down 13% year-on-year to Rs 442.72 crore) and lower tax expense (down 4.7% YoY to Rs 57.68 crore) in the fourth quarter.
On a sequential basis, net profit fell 10.46% while net sales slipped 7.78% compared with Q3 December 2019. EBITDA fell 5.76% to Rs 243.83 crore in Q4 March 2020 from Rs 258.75 crore in Q3 December 2019. The EBITDA margin stood at 35.52% in Q4 FY20 as against 34.75% in Q3 FY20.
Total CNG sales volumes shrunk 11.95% to 180.17 SCM (standard cubic metre) million in Q4 March 2020 from 204.64 SCM million in Q3 December 2019.
Total PNG volumes fell 3.84% to 73.22 SCM million in the quarter ended on 31 March 2020 from 76.15 SCM million in the quarter ended on 31 December 2019.
MGL is one of the largest city gas distribution in India with sole authorisation to distribute compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its adjoining areas and the Raigad district in the state of Maharashtra, India.
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