Gas distribution company Mahanagar Gas Ltd (MGL) today reported 30.16 per cent increase in net profit to Rs 99 crore for the third quarter ended December 31, 2016-17, helped by lower expenses.
The company had posted net profit of Rs 76.06 crore in the October-December period of last fiscal.
Its total income from operations, however, fell by 2.04 per cent to Rs 554.34 crore, from Rs 565.93 crore in the year-ago period, Mahanagar Gas Ltd said in a BSE filing.
During the quarter under review, the company's expenses stood at Rs 411.92 crore, down 10.20 per cent, as against Rs 458.74 crore a year ago.
In a separate filing, Mahanagar Gas said its Board of Directors has declared interim dividend of Rs 8 per equity share of Rs 10 each on the equity shares of the company for the financial year 2016-17.
The company's Rs 1,040 crore IPO has hit the market in July 2016.
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