Mahanagar Gas Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024
May 09, 2024 at 11:31 am EDT
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Mahanagar Gas Limited reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported sales was INR 17,714.6 million compared to INR 17,718.1 million a year ago. Revenue was INR 18,155.9 million compared to INR 18,054.5 million a year ago. Net income was INR 2,522.6 million compared to INR 2,688.1 million a year ago. Basic earnings per share from continuing operations was INR 25.54 compared to INR 27.21 a year ago. Diluted earnings per share from continuing operations was INR 25.54 compared to INR 27.21 a year ago.
For the full year, sales was INR 62,901 million compared to INR 62,992.8 million a year ago. Revenue was INR 70,892.2 million compared to INR 70,328.4 million a year ago. Net income was INR 12,763.7 million compared to INR 7,900.5 million a year ago. Basic earnings per share from continuing operations was INR 129.21 compared to INR 79.98 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.