Mahanagar Gas - Margins Drive Earnings Rise In Q3; Volumes Still Down YoY: ICICI Securities
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ICICI Securities Report
Mahanagar Gas Ltd.’s Q3 FY21 earnings per share was up 17% YoY despite fall in volumes, due to surge in margins to a new high as fall in gas cost and QoQ fall in opex was not fully passed on.
Nine months recurring EPS was down 30% YoY despite 15% YoY rise in margin, hit by 34% YoY volume fall.
Compressed natural gas and residential piped natural gas prices were raised from February 08, 2021 and that will boost Q4 margins.
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