The shares of Mahanagar Gas surged nine percent in the trade on Tuesday to a fresh 52-week high of Rs 1,097.7. The city gas utility company on Monday, May 8, reported a 56.3 percent year-on-year (YoY) jump in net profit at Rs 268.8 crore for the fourth quarter that ended March 31, 2023.
In the corresponding quarter last year, the company posted a net profit of Rs 172 crore. CNBC-TV18 Polls had predicted a profit of Rs 206 crore for the quarter under review.
In the March quarter, total revenue stood at Rs 1,610.5 crore during the period under review, which declined 3.6 percent against Rs 1,671 crore in the corresponding period of the preceding fiscal, the company said. CNBC-TV18 Polls had predicted revenue of Rs 1,633 crore for the quarter under review.
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At the operating level, EBITDA jumped 52.2 percent to Rs 389.6 crore in the fourth quarter of this fiscal over Rs 256 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 24.2 percent in the reporting quarter against 15.3 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company declared a final dividend of Rs 16 per equity share, having a face value of Rs 10 each (160 percent), for the financial year 2022-2023. The total dividend will be Rs 26 per equity share having a face value of Rs 10 each (260 percent).
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