News: ATGL's revenue was at Rs.931.8 crore, up 78.4% YoY (and 35.7% QoQ) in Q3FY22. Sales volume was at 2.1 mmscmd, up ~25% YoY and ~10% QoQ. EBITDA declined 4.4% YoY (and 12.1% QoQ) to Rs.203.3 crore due to high gas costs. Subsequently, PAT was at Rs.131.6 crore, down 9.3% YoY and 17.2% QoQ.
Views: Increase in realisation as well as sales volume led to higher revenues. However, gross margin was impacted due to sharp rise in LNG costs and higher proportion of high-priced gas in source mix in Q3FY22. Gross margin was at Rs.14.4/scm, down Rs.2.7/scm YoY and Rs.4.1/scm QoQ. Exit volume in Q3FY22 was 2.2 mmscmd. New geographical areas contributed 17% of sales mix during Q3FY22 against 10% in FY21. As LNG price remains at higher level, margin outlook will be key monitorable, going ahead.
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