Q1FY19 Result: Mahanagar Gas profit rises marginally by 3.2 per cent

Mahanagar Gas reported results for the quarter ended June 30, 2018 on Tuesday after market hours. The company's standalone revenue for the quarter came in at Rs. 676.27 crore, registering 16 per cent yoy increase.
  
EBITDA for the quarter rose by 4 per cent yoy to Rs. 210.94 crore with a corresponding margin contraction of 362 bps. EBITDA margin for the quarter stood at 31.2 per cent. This margin contraction was led by jump in cost of natural gas and other expenses by 26.7 per cent and 24.3 per cent yoy, respectively. The PAT for the quarter came in at Rs. 128.33 crore, yoy increase of 3.2 per cent.

Mahanagar Gas Limited (MGL) is a city gas distribution (CGD) company. It is involved in the distribution 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.

On Tuesday, the stock opened at Rs. 903 per share and made an intraday high and low of Rs. 923.55 and Rs. 896.20, respectively, and finally closed at Rs. 911.20, on the BSE.