Mahanagar Gas share price hit life time high of Rs.828 on the National Stock Exchange (NSE) today after the Mumbai-based natural gas distribution company’s profit during July-September quarter jumped 40.8 per cent year-on-year to Rs 102.2 cr, driven by strong operational income in spite of lower revenue. The total income from operations fell 3.1 per cent to Rs 574.2 cr in September quarter as compared to Rs 592.7 cr in year-ago period.
EBITDA or earnings before interest, tax, depreciation and amortization grew by 34.9 per cent year-on-year to Rs 161.5 cr and margin expanded by 810 basis points to 28.1 per cent in the quarter ended September 2016.
Lower cost of natural gas and traded items boosted operational income, which slipped 19.3 per cent to Rs 269.17 cr on a yearly basis. For the half year ended September 2016, the company said that profit jumped 29.6 per cent to Rs 194.97 cr while revenue declined 4.3 per cent to Rs 1,108.3 cr as compared to corresponding quarter of last fiscal.
At 9:36 am, Mahanagar Gas share price was trading 4.27 per cent higher at Rs.804.05 on the NSE. Out of the 1700 Shares listed on the NSE, Mahanagar Gas is one of the top 500 Stocks, identified by Dynamic Levels Researchers and stock analysts. The stock can be a good investment opportunity which can give you good returns. The scrip is a well analyzed stock, based on Dynamic Levels’ technical and fundamental research.
The stock opened at Rs.805 from a previous closing of Rs.771.10. So far, 333509 shares have changed hands on the NSE counter having a traded value of Rs.2713.53 lacs.
To seek information on the resistance and support levels of the scrip and know more about its fundamentals and financials, please pay a visit to Mahanagar Gas share price history.
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