Mahanagar Gas in demand after robust Q1 performance

Mahanagar Gas jumped 4.19% to Rs 1,166.1 after the PSU company reported a 351% jump in net profit to Rs 204.08 crore on 135% rise in net sales to Rs 615.49 crore in Q1 FY22 over Q1 FY21.

Jul 29, 2021 09:07 IST capital market

On a sequential basis, the companys net profit declined 4% while its net sales fell 14% in Q1 FY22 over Q4 FY21.

EBIDTA in Q1 FY22 stood at Rs 303.99 crore, falling 3.85% from Rs 316.16 crore posted in Q4 FY21. Meanwhile, the company EBITDA margin improved to 49.39% in Q1 FY22 from 44.05% in Q1 FY21.

The companys total sales volume declined 16.14% to 218.25 SCM (standard cubic metre) million in Q1 FY22 from 260.25 SCM posted in Q4 FY21. The city gas distributors CNG volumes fell 22.53% to 141.11 SCM million while the total PNG volumes have declined 1.24% to 77.14 SCM million in Q1 FY22 over Q4 FY21.

Mahanagar Gas (MGL) is one of the Indias leading natural gas distribution companies. It has a natural gas distribution network in Mumbai and its adjoining areas. GAIL (India) (Maharatna Company of Govt. of India) is the promoter of MGL.

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