Moneycontrol
Feb 16, 2018 12:50 PM IST | Source: CNBC-TV18

Expect 6% growth in CNG voulmes going ahead: Mahanagar Gas

In an interview with CNBC-TV18, SM Ranade, CFO of Mahanagar Gas spoke about the results and his outlook for the company.

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Mahanagar Gas reported strong revenue growth led by robust volumes in both Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) segments. Margins were lower sequentially, but still above estimates.

In an interview with CNBC-TV18, SM Ranade, CFO of Mahanagar Gas spoke about the results and his outlook for the company.

Talking about volume growth he said, “Volume growth was pretty impressive this time and the overall growth has been 7 percent made up of around 6.5 percent of CNG and around 8.5 percent of PNG, which consists of domestic, industrial and commercial put together.”

Further talking about growth in PNG, he said, “The growth in the domestic sector has been in double-digit. In fact, it was almost 11 percent growth, which we have clocked into. Going forward also, this momentum is likely to continue.”

Speaking about growth in CNG, he said, “ CNG - some conversions we have seen in the last couple of months. Also, the conversions are on upper side. Our attempts for connecting more and more domestic connections should also continue. Assuming one or two bigger industrial customers come up in the forthcoming quarters, we should see similar growth trajectory. Historically, we have been growing at a 6 percent compound annual growth rate (CAGR) on a five-yearly basis. We expect similar growth should continue."
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