Mahanagar Gas Limited (MGL) witnessed 16.24 per cent decrease in net profit in the second quarter of financial year (FY) 2024-25. The net profit during the quarter stood at Rs 2.83 billion as against Rs 3.38 billion profit in the second quarter of FY 2023-24.
The revenue from operations witnessed 13.53 per cent increase from Rs 17.28 billion to Rs 19.62 billion during the period under consideration.
The total sales volume stood at 722.97 standard cubic meters (scm) million, compressed natural gas (CNG) volumes at 517.77 scm million and piped natural gas (PNG) volumes at 205.2 scm million during the July 2024- September 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.