Mahanagar Gas - Margins Drive Earnings Rise In Q3; Volumes Still Down YoY: ICICI Securities
Gas pipeline. (Photographer Krisztian Bocsi/Bloomberg)

Mahanagar Gas - Margins Drive Earnings Rise In Q3; Volumes Still Down YoY: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Securities Mahanagar Gas Q3FY21 Results Update.pdf

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