Mumbai, India, September 1, 2016: Mahanagar Gas Limited (BSE: 539957, NSE: MGL), today announced its unaudited financial results for the quarter ended June 30, 2016.
The Company has adopted Indian Accounting Standards (“Ind AS”) from 1 April, 2016 and the financial results for this quarter and the corresponding quarter of the previous financial year have been prepared in accordance with the same.
Key Financial Highlights
Q1 FY 2016-17 (As per Ind-AS)
Mahanagar Gas Limited (MGL) has reported a 19.1% increase in its Profit After Tax of Rs.92.73 crores for the quarter ended 30 June, 2016, compared to Rs.77.87 crores for the quarter ended 30 June, 2015.
The Company has recorded overall volume growth of 7.5%, consisting of a growth of 8.3% in its CNG volumes and a 5.5% growth in PNG volumes. The EBITDA margin has improved to 31.5% as compared with 24.6% in the corresponding quarter of the previous financial year.
Sales/ Income from operations is reported at Rs.530.70 crores as compared with Rs.562.28 crores in the corresponding quarter of the previous financial year. The reduction is mainly due to a reduction in the selling prices of both CNG and PNG, in view of lower input gas cost. Earnings have increased to Rs.9.39 per share for Q1 2016-17, from Rs.7.88 per share for Q1 2015-16.
Commenting on the results, Mr. Rajeev Mathur, Managing Director, said, “This is the first quarterly earnings release after the company listed in July 2016. We are happy to report an all- round progress in terms of sales volumes, profits and earnings per share. Among other things, additions to our customer base and a reduction in gas costs has helped us achieve an improvement in our financial performance as compared to the corresponding quarter of the previous financial year.”
PERFORMANCE HIGHLIGHTS
Q1 2016-17 V/S Q1 2015-16
PARTICULARS
|
UOM
|
Q1 FY
2016-17
|
Q1 FY
2015-16
|
% INCREASE / (DECREASE)
|
SALES VOLUMES:
| ||||
CNG
|
SCM Million
|
169.18
|
156.27
|
8.3%
|
PNG – Domestic
|
SCM Million
|
26.11
|
24.35
|
7.2%
|
PNG – Industry / Commercial
|
SCM Million
|
32.07
|
30.80
|
4.1%
|
PNG - TOTAL
|
SCM Million
|
58.18
|
55.15
|
5.5%
|
TOTAL VOLUMES
|
SCM Million
|
227.36
|
211.42
|
7.5%
|
TOTAL VOLUMES
|
MMSCMD
|
2.50
|
2.32
|
7.5%
|
NET SALES VALUE:
| ||||
CNG (Net of Excise Duty)
|
Rs. Crores
|
345.53
|
361.26
|
(4.4%)
|
PNG
|
Rs. Crores
|
134.04
|
149.65
|
(10.4%)
|
TOTAL
|
Rs. Crores
|
479.57
|
510.91
|
(6.1%)
|
INCOME FROM OPERATIONS (Gross)
|
Rs. Crores
|
534.14
|
565.12
|
(5.5%)
|
Less: Excise Duty
|
Rs. Crores
|
50.70
|
51.32
|
(1.2%)
|
INCOME FROM OPERATIONS (Net)
|
Rs. Crores
|
483.44
|
513.80
|
(5.9%)
|
NET PROFIT (after tax)
% of Net Income from Operation
|
Rs. Crores
%
|
92.73
19.2%
|
77.87
15.2%
|
19.1%
|
EBIDTA
% of Net Income from Operation
|
Rs. Crores
%
|
152.35
31.5%
|
126.49
24.6%
|
20.4%
|
EARNINGS PER SHARE
|
Rs.
|
9.39
|
7.88
|
19.1%
|
