Mahanagar Gas Ltd's Q2FY19 standalone net profit rises 9.2% yoy to Rs136.29cr: Beats Estimates

The company’s standalone revenue in the quarter stood at Rs696.51cr, up 30.49% yoy.

Nov 13, 2018 12:11 IST India Infoline Research Team

Mahanagar Gas Ltd Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
Revenue 696.51 30.5
EBITDA 221.47 10.7
EBITDA Margin (%) 31.8 [568]
Net Profit  136.29 9.2
***EBITDA margin change is bps

Mahanagar Gas Ltd's quarterly results for Q2FY19 beat the estimates. The company's net revenue grew 30.5% yoy to Rs696.5cr against Rs533.76cr in Q2FY18, beating the estimates of Rs649cr. EBITDA for the quarter grew 10.7% yoy to Rs221.47cr against Rs200.06cr. EBITDA margin declined 568bps yoy to 31.8%. Net profit for the quarter grew 9.2% yoy to Rs136.3cr against Rs124.79cr in the corresponding quarter last year, beating the estimates of Rs130cr.

• CNG sales volume grew 3.8% qoq to 200.47 SCM million in Q2FY19.
• Domestic PNG volumes grew 0.65% qoq to 33.51 SCM million and industrial/commercial PNG volumes grew 9.3% qoq to 38.32 SCM million in Q2FY19.
• CNG (net of excise duty) revenue grew 12.14% qoq to Rs466.68cr and PNG revenue grew 13.3% qoq to Rs223.84cr in Q2FY19.

Technical View:

Mahanagar Gas Ltd ended at Rs857.90, down 0.4 points, or 0.05%, from its previous close of Rs858.30 on the BSE. The scrip opened at Rs855.75 and touched a high and low of Rs860.85 and Rs844.15, respectively. A total of 2,59,185 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200-DMA.

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