Mahanagar Gas Limited reported earnings results for the second quarter and six months ended September 30, 2024. For the second quarter, the company reported sales was INR 17,862.5 million compared to INR 15,709.3 million a year ago. Revenue was INR 20,098 million compared to INR 17,726.5 million a year ago. Net income was INR 2,835.1 million compared to INR 3,385 million a year ago. Basic earnings per share from continuing operations was INR 28.7 compared to INR 34.27 a year ago.
For the six months, sales was INR 34,520.1 million compared to INR 31,087.2 million a year ago. Revenue was INR 38,776 million compared to INR 35,017.8 million a year ago. Net income was INR 5,722.9 million compared to INR 7,069 million a year ago. Basic earnings per share from continuing operations was INR 57.93 compared to INR 71.56 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 through the selling of the natural gas segment. It offers PNG for domestic, commercial and industrial purposes. 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.
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