Mahanagar Gas declines after weak Q2 performance

Mahanagar Gas slipped 3.64% to Rs 1487.65 after the company reported 16.5% fall in standalone net profit to Rs 282.8 crore despite a 9% rise in net revenue from operations to Rs 1,711.62 crore in Q2 FY25 over Q2 FY24.

EBITDA fell by 16.8% to Rs 282.8 crore in Q2 FY25 from Rs 338.5 crore in Q2 FY24. EBITDA margin for the period under review was 23.28% (down 720 basis points YoY).

Total sales volume rose by 13.1% YoY to 371.85 SCM million in Q2 FY25. CNG and PNG sales volume for September24 quarter were 265.47 SCM million (up 11.7% YoY) and 106.38 SCM million (up 16.6% YoY), respectively.

 

Mahanagar Gas is in the business of city gas distribution (CGD), presently distribution of natural gas for domestic industrial, commercial customers and CNG vehicles.

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