Live Breaking News & Updates on City Gas Distributor
Stay updated with breaking news from City gas distributor. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Companies including Indraprastha Gas, Gujarat Gas , Mahanagar Gas have seen their margins squeezed because the allocation of natural gas sold under government-set Administered Pricing Mechanism (APM) has fallen because of lower output at domestic wells. To make up the shortfall, the companies have to buy gas on the more expensive open market. ....
China has made progress on gas pricing reforms, with a linkage between upstream costs and end-user tariffs finally in place, but certain players along the gas value chain are reaping the benefits more than others. [Gas in Transition, Volume 3, Issue 11] ....
Gujarat Gas jumped 5% to Rs 567.20 after the city gas distributor reported 42.3% rise in standalone net profit to Rs 349.93 crore on a 28.6% increase in net sales to Rs 3,428.92 crore in Q4 FY21 over Q4 FY20. Profit before tax in Q4 FY21 stood at Rs 468.21 crore, up by 44.9% from Rs 323.05 crore in Q4 FY20. The company s average gas sales volume for the quarter was at 12.13 million metric standard cubic meter per day (mmscmd), up by 22% compared to corresponding quarter previous year. In industrial and CNG category, the gas sales volume is up by 24% and 16% respectively, compared to corresponding quarter previous year. The company recorded 6.9% growth in standalone net profit to Rs 1,275.50 crore on 4.3% decline in net sales to Rs 9,854.25 crore in FY21 over FY20. ....
Mahanagar Gas rose 2.87% to Rs 1173.90 after the company reported 27.72% jump in net profit to Rs 212.77 crore on 4.53% rise in revenue from operations to Rs 717.66 crore in Q4 FY21 over Q4 FY20. The company s net profit has declined 2.04% while revenue from operations increased 7.69% in Q4 FY21 over Q3 FY21. The company s total sales volume rose 2.11% to 260.25 SCM (standard cubic metre) million in Q4 FY21 compared with 254.87 SCM million in Q3 FY21. While the city gas distributor s CNG volumes jumped 5.12% to 182.14 SCM million, the total PNG volumes have declined 4.29% to 78.11 SCM million in Q4 FY21 over Q3 FY20. EBIDTA in the fourth quarter remained almost flat at Rs 316.16 crore in Q4 FY21 over Q3 FY21. EBIDTA margin was at 44.05% as on 31 March 2021 as against 47.53% as on 31 December 2020. ....
Chinese Distributor Partners with Sinopec Mar 4, 2021 4:05:pm Summary China Gas provides Sinopec with market access while Sinopec provides China Gas with logistical and LNG procurement support. by: William Powell China Gas Holdings and Sinopec have entered into a strategic agreement that will allow them to fully leverage each other s advantages in resources an. Posted in: ....