Mahanagar Gas Limited (MGL) reported a 203 per cent increase year- on- year (YoY) rise in net profit of the third quarter of financial year 2022-23. Net profit during the quarter came in at Rs 1.72 billion against Rs 0.56 billion profit in the same period during FY 2021-22.
The net sales witnessed a rise of 63.72 per cent on YoY basis from Rs 11.22 billion to Rs 18.38 billion for the same duration. In addition to this, MGL also witnessed a 148.40 per cent increase in Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) from Rs 1.03 billion to Rs 2.56 billion.
The total volume stood at 313.88 mmscm, compressed natural gas (CNG) volumes at 227.64 mmscm and piped natural gas (PNG) volumes at 86.24 mmscm during the third quarter of FY 2022-23.