Mahanagar Gas Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 27, 2023 at 08:21 am EDT
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Mahanagar Gas Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 15,709.3 million compared to INR 15,626.6 million a year ago. Revenue was INR 17,726.5 million compared to INR 17,435.1 million a year ago. Net income was INR 3,385 million compared to INR 1,639.7 million a year ago. Basic earnings per share from continuing operations was INR 34.27 compared to INR 16.6 a year ago.
For the six months, sales was INR 31,087.2 million compared to INR 30,174.1 million a year ago. Revenue was INR 35,017.8 million compared to INR 33,567 million a year ago. Net income was INR 7,069 million compared to INR 3,491.7 million a year ago. Basic earnings per share from continuing operations was INR 71.56 compared to INR 35.35 a year ago.
Mahanagar Gas Limited is an India-based natural gas distribution company. The Company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, Thane and Raigad districts of Maharashtra. It operates in the business of city gas distribution segment. It offers PNG for domestic, commercial and industrial purpose. Its domestic PNG is used for various purposes like cooking and water heating. It is also used by hospitals, nursing homes, hotels, flight kitchens, restaurants, places of worship and others. It offers PNG for various industries, including metal, pharmaceuticals, food and beverages, printing and dyeing, oil mills, power generation and air conditioning. It supplies CNG to Brihanmumbai Electricity Supply and Transport/Thane Municipal Transport/Maharashtra State Road Transport Corporation/Navi Mumbai Municipal Transport (BEST/TMT/MSRTC/NMMT) buses, light commercial vehicles (LCVs)/ tempos/ trucks/private buses. It also installs gas geysers.
MAHANAGAR GAS LIMITED 
