Mahanagar Gas Limited’s (MGL) net profit grew by 16.7 per cent to Rs 2.17 billion in the third quarter of FY 2021 as compared to the same period in FY 2020. Meanwhile, the gas distributor’s profit before tax grew by 19.2 per cent to Rs 2.91 billion in the same period. Moreover, compressed natural gas (CNG) sales volumes jumped 47.58 per cent to 173.26 million standard cubic metre (SCM) and total piped natural gas (PNG) sales volumes rose 11.29 per cent to 81.61 million SCM in the third quarter of FY 2021 as compared to the previous quarter.
MGL is one of the largest city gas distribution companies in India and is the sole entity authorised to distribute CNG and PNG in Mumbai, its adjoining areas and the Raigad district in the state of Maharashtra, India.