Mahanagar Gas reports 5% rise in Q4 net

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Mahanagar Gas Ltd, which retails CNG in Mumbai and adjoining suburbs, today reported a 5 percent rise in its March quarter net profit to Rs 104.76 crore. The company had a net profit of Rs 99.47 crore in the same period of the previous fiscal, it said in a regulatory filing.

The company did not give reasons for the rise in net profit.

Sales rose to Rs 661.13 crore in January-March 2018 from Rs 589.36 crore a year back.

The board of the company recommended a final dividend of Rs 11 per equity share for the financial year ended March 31, 2018.

This is in addition to the interim dividend of Rs 8 per equity share paid in February.

With this, the total dividend for 2017-18 shall be Rs 19 per share (normal dividend of Rs 12.50 and special dividend of Rs 6.50).