Mahanagar Gas (MGL) reported a consolidated net profit of Rs 172.07 crore in Q3 FY23, which is significantly higher as compared with a net profit of Rs 56.79 crore in Q3 FY22.
Net revenue from operations increased by 62.62% YoY to Rs 1671.39 crore during the quarter.
EBITDA jumped by 148.40% to Rs 256.1 crore in Q3 FY23 from Rs 103.1 crore in Q3 FY22. EBITDA margin was 15.32% in Q3 FY23 as against 10.03% in Q3 FY22.
Total volumes increased by 3.29% to 313.88 SCM Million in Q3 FY23 over Q3 FY22. CNG volumes were 227.64 SCM Million (up 3.46%) while the total PNG volumes were 86.24 SCM Million (up 2.84%) during the period under review.
Mahanagar Gas (MGL) is one of 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 holds 32.50% stake in the company, as on 30 September 2022.
The scrip added 0.25% to currently trade at Rs 854.35 on the BSE.
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