Mahanagar Gas slips 6% as Q4 profit miss Street estimates

The company posted a net profit of Rs 133 crore, as compared to average analyst estimates of Rs 156 crore for Q4FY19.

Mahanagar Gas (MGL) shares slipped 6 per cent to Rs 886 on the BSE on Friday, after the company reported lower-than- expected 27 per cent year-on-year (YoY) growth in net profit at Rs 133 crore in March quarter.

The company’s net profit was below average analysts' estimates of Rs 156 crore, due to weaker-than-expected sales volume growth; and moderation in EBITDA (earnings before interest, tax, depreciation and amortization) margin from 30.01 per cent to 29.61 per cent during the quarter.

Operational revenue during the quarter under review grew 23 per cent at Rs 793 crore against Rs 644