The Mahanagar Gas stock gets a bit gassy

The Mahanagar Gas stock gets a bit gassy

It’s not even a year since Mahanagar Gas Ltd (MGL) listed on the bourses and investors have already hit the jackpot.

Since listing on 1 July, the MGL stock has more than doubled from its issue price of Rs421 to Rs956.75 on NSE.

MGL has ended financial year 2017 on a sweet note. Lower input costs meant net profit increased about 27% annually to Rs393 crore at a time when net revenue declined 2%. Average daily sales volume increased last year. MGL explains that the marginal decline in revenue was on account of pass-through of the net reduction in input gas costs. Read More…

 

 

Credit By: Live Mint

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