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Q4FY20 Earnings Report: Performance Of City Gas Distributors

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Gujarat Gas’ total volumes grew 55 percent compared to last year, aided by higher demand from ceramic companies in Gujarat, moving from coal-based to liquified natural gas units while its peers struggled. Indraprastha Gas saw its slowest volume growth in 20 quarters, and Mahanagar Gas saw negative volume growth for the first time ever. But this outperformance might not last given Gujarat Gas's higher dependence on industrial demand compared to its peers . . .

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