Mahanagar Gas Q4FY22 PAT down -38.06% at Rs131.8 crore yoy on spike in natural gas procurement cost

12 May 2022 , 01:22 AM

Mahanagar Gas Ltd reported 51.47% growth in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs1,187.60 crore. On a sequential basis, revenues were higher for the quarter by 5.76%.

For the full year FY22, the revenues were higher by 66.2% at Rs3,885 crore. For Q4FY22, total volumes for the quarter stood 35.64% higher at 1,094.80 SCM Million.

Among the components of the gas basket, the growth was 49.39% for CNG, 0.44% for domestic PNG, 26.24% for industrial PNG and 11.19% for PNG overall.

The growth was largely driven by the volume growth and also by higher gas prices announced.

The consolidated net profit for Q4FY22 was down -38.06% at Rs131.80 crore while it was up on a sequential basis by 132.08%.

The yoy fall in operating profits was driven by a sharp spike in the procurement cost of natural gas. EBITDA margins, as a result, fell sharply yoy from 43.39% to 25.96% for FY22 versus FY21. EBITDA for the full fiscal year fell by -1.03% at Rs924 crore due to the cost impact.

Net margins stood at 11.10% in Q4FY22 quarter compared to 27.14% in Q4FY21. NPM was higher sequentially against 5.06% in Q3FY22.

Financial highlights for Mar-22 compared yoy and sequentially

	Mahanagar Gas
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 1,187.60	₹ 784.04	51.47%	₹ 1,122.89	5.76%
Net Profit (Rs cr)	₹ 131.80	₹ 212.77	-38.06%	₹ 56.79	132.08%
Diluted EPS (Rs)	₹ 13.34	₹ 21.54		₹ 5.75
Net Margins	11.10%	27.14%		5.06%