Mahanagar Gas Ltd (MGL) on January 23 reported a consolidated net profit of Rs 317.18 crore in the December 2023 quarter, which is 84 percent higher as against Rs 172.07 crore recorded in the year-ago period amid lower gas costs.
The company's net profit slumped marginally on sequential basis, as it stood at Rs 338.50 crore in the preceding quarter.
During the quarter under review, the company’s revenue from operations came in at Rs 1,723.77 crore, a decline from Rs 1,838.44 crore recorded last year.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) came in at Rs 496.76 crore during the third quarter, which is 72.27 percent up from Rs 288.35 crore recorded a year back.
The company’s total volume stood at 3.671 mmscmd (million metric standard cubic metres per day), reporting a growth of 2.69 percent compared to the previous quarter.
CNG volumes showed 1.92 percent growth quarter-on-quarter at 242.17 million scm while PNG (domestic) and PNG (industrial/ commercial) witnessed 7.97 percent increase and 1.52 percent increase respectively in volumes on quarterly basis.
Shares of MGL settled at Rs 1,313.25 apiece on the BSE, which was 0.04 percent lower than the previous day's close.
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