Moneycontrol Bureau
Mahanagar Gas started off the financial year 2016-17 on a positive note with profit in June quarter rising 19.1 percent to Rs 92.7 crore compared with year-ago period, driven by strong operational performance despite weak revenue.
However, revenue declined 5.5 percent to Rs 534.1 crore during the quarter compared with Rs 565.1 crore in same period last year.
Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) surged 20.4 percent year-on-year to Rs 152.3 crore and margin expanded 610 basis points to 28.5 percent in the quarter ended June 2016.
The first quarterly earnings announced by the company after listing on exchanges in July.
At 15:15 hours IST, the scrip of Mahanagar Gas was quoting at Rs 637.50, down Rs 14.10, or 2.16 percent on the BSE.
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