Mahanagar Gas (MGL) reported 38.1% fall in net profit to Rs 131.80 crore on a 51.4% increase in net revenue from operations to Rs 1,086.77 crore in Q4 FY22 over Q4 FY21.
As compared with Q3 FY22, the company's net profit and net revenue from operations are higher by 132.08% and 5.74%, respectively.
Total volumes declined by 6.13% to 285.26 SCM million in Q4 FY22 over Q3 FY22. CNG volumes were at 204.96 SCM million (down 6.85% YoY) and PNG volumes were at 80.30 SCM million (down 4.25% YoY) during the period under review.
EBIDTA in Q4 FY22 was Rs 215.47 crore, up by 108.99% as compared with Rs 103.10 crore in Q4 FY21. EBIDTA margin was 19.83% in Q4 FY22 as against 10.03% in Q3 FY22.
MGL said that the increase in EBIDTA was mainly due to full impact of price rise in the previous quarter, optimization of gas cost and better realization linked to alternate fuel prices.
The city gas distributor recorded 3.65% fall in net profit to Rs 596.95 crore on a 65.40% rise in net revenue from operations to Rs 3,560.19 crore in FY22 over FY21.
MGL is one of 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 and holds 32.50% stake in the company.
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