Mahanagar Gas rose 2.87% to Rs 1173.90 after the company reported 27.72% jump in net profit to Rs 212.77 crore on 4.53% rise in revenue from operations to Rs 717.66 crore in Q4 FY21 over Q4 FY20.
The company's net profit has declined 2.04% while revenue from operations increased 7.69% in Q4 FY21 over Q3 FY21.
The company's total sales volume rose 2.11% to 260.25 SCM (standard cubic metre) million in Q4 FY21 compared with 254.87 SCM million in Q3 FY21.
While the city gas distributor's CNG volumes jumped 5.12% to 182.14 SCM million, the total PNG volumes have declined 4.29% to 78.11 SCM million in Q4 FY21 over Q3 FY20.
EBIDTA in the fourth quarter remained almost flat at Rs 316.16 crore in Q4 FY21 over Q3 FY21. EBIDTA margin was at 44.05% as on 31 March 2021 as against 47.53% as on 31 December 2020.
The company reported 21.92% drop in net profit to Rs 619.57 crore on 27.58% decline in revenue from operations to Rs 2152.53 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
Mahanagar Gas (MGL) is one of the India's 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.
The scrip rose 2.87% to Rs 1173.90 on the BSE.
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