Moneycontrol Bureau
Mumbai-based natural gas distribution company Mahanagar Gas' profit during July-September quarter jumped 40.8 percent year-on-year to Rs 102.2 crore, driven by strong operational income despite lower revenue.
Total income from operations fell 3.1 percent to Rs 574.2 crore in September quarter against Rs 592.7 crore in year-ago period.
EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 34.9 percent year-on-year to Rs 161.5 crore and margin expanded by 810 basis points to 28.1 percent in the quarter ended September 2016.Lower cost of natural gas and traded items boosted operational income, which slipped 19.3 percent to Rs 269.17 crore on yearly basis.
For the half year ended September 2016, Mahanagar Gas said profit jumped 29.6 percent to Rs 194.97 crore while revenue declined 4.3 percent to Rs 1,108.3 crore compared with corresponding quarter of last fiscal.
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