Mahanagar Gas Limited (MGL) reported a 27.72 per cent year-on-year (YoY) rise in its net profit during the fourth quarter of financial year (FY) 2021. The net profit stood at Rs 2.12 billion, whereas the revenue from operations rose by 4.53 per cent YoY and reached Rs 7.17 billion during the same period. Further, the company’s total sales volume rose by 2.11 per cent to 260.25 standard cubic metre (SCM) million in the fourth quarter of FY21 as compared with 254.87 SCM million in the third quarter of FY21.
MGL is one of India’s leading natural gas distribution companies. It has a natural gas distribution network in Mumbai and its adjoining areas and is promoted by GAIL (India).