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Profit before tax stood at Rs 195.03 crore in Q2 September 2020, falling 23.8% year on year from Rs 255.84 crore in Q2 September 2019. Total tax expense stood at Rs 50.69 crore in Q2 September 2020 as against a tax rebate of Rs 14.78 crore in Q2 September 2019.
Sequentially, CNG sales volumes jumped 168.64% to 117.40 million SCM (standard cubic metre) and total PNG sales volumes rose 27.33% to 73.33 million SCM in Q2 September 2020 over Q1 June 2020. Total volumes jumped 88.30% quarter-on-quarter to 190.74 million SCM in Q2 September 2020.
EBIDTA surged 176.40% to Rs 221.09 crore in Q2 FY21 as against Rs 79.99 crore in Q1 FY21. EBITDA margin stood at 43.63% in Q2 FY21 higher than 30.56% in Q1 FY21.
MGL is one of the largest city gas distribution in India with sole authorisation to distribute compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its adjoining areas and the Raigad district in the state of Maharashtra, India.
Shares of Mahanagar Gas were trading 0.63% higher at Rs 884 on BSE.
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