MGL announces Q1 FY 2017-18 results Net Profit after tax improves by 34.1%

Posted by: at 8/09/2017 04:51:00 am


Mumbai, India, August9, 2017 (14:30 IST):Mahanagar Gas Limited (BSE: 539957, NSE: MGL), today announced its unaudited financial results for the quarter ended June 30, 2017. Net Profit after tax has increased over corresponding quarter of previous year by 34.1%.

Key Financial Highlights

Q1 FY 2017-18

Mahanagar Gas Limited (MGL) has reported an increase of 34.1% in Net Profit after tax. Compared to Rs.92.73 crore for the quarter ended 30 June, 2016, the company has reported Net Profit After Tax of Rs.124.33 crore for the quarter ended 30 June, 2017.

The company has recorded overall volume growth of 2.7% consisting of growth of 1.4% in its CNG volumes and 6.7% in PNG volumes. EBITDA margin has improved to 38.3% as compared to 31.5% in corresponding quarter of previous financial year. 

Sales/ Income from operations is reported at Rs.582.85 Crores as compared to Rs.534.14 Crores in corresponding quarter of previous financial year.  The net increase is a result of increase in sales volumes and reduction in selling prices of both CNG and PNG in view of lower input gas cost. Earnings have increased to Rs.12.59 per share for Q1 2017-18 from Rs.9.39 per share for Q1 2016-17.


While commenting on Q1 results, Mr. Rajiv Mathur, Managing Director said, “We are happy to report growth in profits and earnings per share. Among other things, favourable exchange rate, overall reduction in input gas costs, better alternate fuel linked price realization in case of industry, commercialcustomer category and marginal growth in sales volumes helped to achieve improved financial results as compared to corresponding quarter of previous financial year.”


PERFORMANCE HIGHLIGHTS
Q1 2017-18 V/S Q1 2016-17
PARTICULARS
UOM
Quarter ended
Quarter ended
% INCREASE / (DECREASE)
Jun-17
Jun-16
SALES VOLUMES:




CNG
SCM Million
171.48
169.18
1.36%
PNG - Domestic
SCM Million
29.43
26.11
12.71%
PNG – Industry / Commercial
SCM Million
32.63
32.07
1.74%
PNG  - TOTAL
SCM Million
62.06
58.19
6.67%


TOTAL VOLUMES
SCM Million
233.54
227.37
2.72%


TOTAL VOLUMES
MMSCMD
2.57
2.50
2.72%





NET REVEUE FROM OPERATIONS :




Net Sales




CNG (Net of Excise Duty)
Rs. Crores
366.67
345.45
6.14%
PNG
Rs. Crores
158.99
134.02
18.63%
Traded Items
Rs. Crores
1.32
0.53
Total Sales
Rs. Crores
526.98
479.99
9.79%
Other Operating Income
Rs. Crores
3.88
3.44
12.70%
TOTAL NET REVEUE FROM OPERATIONS
Rs. Crores
530.86
483.44
9.81%

INCOME FROM OPERATIONS (Gross)
Rs. Crores
582.85
534.14
9.12%
Less: Excise Duty
Rs. Crores
51.99
50.70
2.55%
INCOME FROM OPERATIONS (Net)
Rs. Crores
530.86
483.44
9.81%
EBIDTA
Rs. Crores
203.26
152.35
33.42%
% of Net Income from Operation
%
38.29%
31.51%
NET PROFIT (after tax)
Rs. Crores
124.33
92.73
34.08%
% of Net Income from Operation
%
23.42%
19.18%
EARNINGS PER SHARE
Rs.
12.59
9.39
34.08%

About – Mahanagar Gas Limited (MGL):

Mahanagar Gas Limited (MGL) is one of the largest city gas distribution (CGD) companies in India.  It has more than 20 years of experience in supplying natural gas in Mumbai and is presently the sole authorised distributor of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Mumbai and its adjoining areas and in the Raigad district in the state of Maharashtra, India. MGL is a joint venture between GAIL(India) Ltd and BGAPH (a subsidiary of Royal Dutch Shell Plc). It has also shareholding by the Government of Maharashtra. MGL’s vision envisages providing safe, efficient and reliable energy contributing significantly to a pollution free environment. MGL today is an ISO 9001:2008, ISO-14001:2004 and OHSAS 18001:2007 certified organization.

Today, MGL reaches out to more than 9.75 lakh households and above 3300 small commercial and industrial establishments. MGL also supplies CNG to above 5.50 lakh vehicles which includes more than 2.30 lakh rickshaws and above 60,000 taxis & more than 2.50 lakh cars in Mumbai, Thane, Mira-Bhayander, Navi Mumbai and beyond. MGL also supplies CNG to 3300 BEST/TMT/MSRTC/NMMT buses, more than 6500 LCVs/ Tempos/ Trucks/Private buses plying on CNG supplied through its wide distribution network of steel, MDPE pipeline system and more than 200 CNG filling stations having more than 1100 dispensing points.


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