| Q4FY23 | Q4FY22 | Q3FY23 | YOY | QOQ | |
|---|---|---|---|---|---|
| OP REVENUE | 1610 | 1086 | 1671 | 48 | -4 |
| EBITDA from op | 389 | 215 | 256 | 81 | 52 |
| % | 24 | 20 | 15 | 22 | 58 |
| NET profit | 268 | 131 | 172 | 105 | 56 |
| EPS | 27 | 13 | 17 | 105 | 56 |
| SALES VOLUME(SCM MILLION) | Q4FY23 | Q4FY22 | Q3FY23 | YOY | QOQ |
|---|---|---|---|---|---|
| CNG | 217 | 204 | 228 | 6 | -5 |
| PNG DOMESTIC | 45 | 42 | 45 | 7 | 0 |
| PNG INDUSTRY+COMMERCIAL | 40 | 37 | 40 | 8 | 0 |
Good set of results by MGL.
Operating margins which were below 20% during last few quarters due to high NG cost is improving (24% in Q4).
Margins should trend higher in next few quarters as NG cost is down substantially and gas sourced by APM route ( which forms more than 80% for MGL) has come under price regulation as per KP committee adopted by Govt. Even though CGD companies have passed on majority gas sourcing cost reduction to consumers , it will help in increasing the volumes sold and margins.
QOQ reduction in sales volume in CNG to some extent must be due to BEST taking off 400 CNG buses due to fire accident during Feb/March which seems to have restated again.
Mumbai: Most BEST buses withdrawn after fire are back on road.