Mahanagar Gas Limited (MGL) witnessed 30.26 per cent decrease in net profit in the third quarter of financial year (FY) 2024-25. The net profit during the quarter stood at Rs 2.21 billion as against Rs 3.17 billion profit in the third quarter of FY 2023-24.
The revenue from operations witnessed 17.85 per cent increase from Rs 17.23 billion to Rs 20.31 billion during the period under consideration.
The total sales volume stood at 1,101.65 standard cubic meters (scm) million, compressed natural gas (CNG) volumes at 786.32 scm million and piped natural gas (PNG) volumes at 315.33 scm million during the October 2024- December 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.