Mahanagar Gas Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 23, 2024 at 06:52 am EST
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Mahanagar Gas Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 17,237.7 million compared to INR 18,384.4 million a year ago. Revenue was INR 17,718.4 million compared to INR 18,706.9 million a year ago. Net income was INR 3,171.8 million compared to INR 1,720.7 million a year ago. Basic earnings per share from continuing operations was INR 32.11 compared to INR 17.42 a year ago. Diluted earnings per share from continuing operations was INR 32.11 compared to INR 17.42 a year ago.
For the nine months, sales was INR 51,428.9 million compared to INR 51,491.5 million a year ago. Revenue was INR 52,736.2 million compared to INR 52,273.9 million a year ago. Net income was INR 10,240.8 million compared to INR 5,212.4 million a year ago. Basic earnings per share from continuing operations was INR 103.67 compared to INR 52.77 a year ago. Diluted earnings per share from continuing operations was INR 103.67 compared to INR 52.77 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.