Mahanagar Gas Limited (MGL) has reported 6.15 per cent decrease in net profit in the fourth quarter of financial year (FY) 2023-24. The net profit during the quarter stood at Rs 2.52 billion as against Rs 2.68 billion profit in the fourth quarter of FY 2022-23.
The revenue from operations witnessed 0.01 per cent decrease from Rs 17.72 billion to Rs 17.71 billion during the period under consideration.
The total sales volume stood at 343.91 standard cubic meters (scm) million, compressed natural gas (CNG) volumes at 242.57 scm million and piped natural gas (PNG) volumes at 101.34 scm million during the January 2023- March 2024 period under consideration.
MGL is one of the country’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) Limited.