Mahanagar Gas Q2 PAT up 42% YoY to Rs 204 crore

Mahanagar Gas reported 41.5% rise in net profit to Rs 204.29 crore on a 63.8% increase in net sales to Rs 830.14 crore in Q2 FY22 over Q2 FY21.

Profit before tax in Q2 FY22 stood at Rs 275.05 crore, up by 41% from Rs 195.03 crore in Q2 FY21,

While the company's net profit has remained flat, net sales increased by 34.88% in Q2 FY22 as compared with Q1 FY22.

The city gas distributor's CNG sales volumes increased by 45.65% to 205.52 SCM million and PNG sales volumes rose by 6.15% to 81.89 SCM million Q2 FY22 over Q1 FY22.

 

Mahanagar Gas (MGL) is one of the India's leading natural gas distribution companies. It has a natural gas distribution network in Mumbai and its adjoining areas. GAIL (India) (Maharatna Company of Govt. of India) is the promoter of MGL and held 32.50% stake in the company as on 30 September 2021.

The scrip shed 0.47% to currently trade at Rs 1002.85 on the BSE.

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