Mahanagar Gas Limited (MGL) witnessed 21.61 per cent decrease in net profit in the first quarter of financial year (FY) 2024-25. The net profit during the quarter stood at Rs 2.88 billion as against Rs 3.68 billion profit in the first quarter of FY 2023-24.
The revenue from operations witnessed 8.39 per cent increase from Rs 16.9 billion to Rs 18.32 billion during the period under consideration.
The total sales volume stood at 351.13 standard cubic meters (scm) million, compressed natural gas (CNG) volumes at 252.3 scm million and piped natural gas (PNG) volumes at 98.83 scm million during the April 2024- June 2024 period.
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.