Mahanagar Gas has reported 1% fall in net profit to Rs 264.99 crore on a 3% decline in net revenue from operations to Rs 1,567.03 crore in Q4 FY24 as compared with Q4 FY23.
EBITDA improved marginally to Rs 393.79 crore in Q4 FY24 from Rs 389.68 crore in Q4 FY23. EBITDA margin in the fourth quarter was 25.13% as against 24.20% in the same period last year.
Total sales volume for the period under review amounted to 343.91 SCM million (up 13% YoY). Of this, CNG sales volume added up to 242.57 SCM million (up 12% YoY) and PNG sales volume aggregated to 101.34 SCM million (up 17% YoY).
For FY24, Mahanagar Gas has recorded net profit and net revenue of Rs 1,289.07 crore (up 63.16% YoY) and Rs 6,244.53 crore (down 0.87% YoY), respectively.
The board of MGL has approved a final dividend of Rs 16 per share for the year ended on 31 March 2024.
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Mahanagar Gas is in the business of city gas distribution (CGD), presently distribution of natural gas for domestic industrial, commercial customers and CNG vehicles.
The scrip fell 2.10% to currently trade at Rs 1301.95 on the BSE today.
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