Mahanagar Gas has reported 1QFY20 earnings with adoption of IndAS-116. EBITDA came in at INR2.8b (+25% est.; +31% YoY), with highest ever EBITDA/scm of INR10.3 (v/s INR8.1 in 1QFY19 and INR7.9 in 4QFY19). MAHGL soucres it's gas for ind/comm on spot basis. Sharp decline in spot LNG prices compared with lack of commensurate correction in competing liquid fuels resulted in highest ever EBITDA/scm. Depreciation increased +26% YoY to INR0.4b....