Mahanagar Gas Limited reported earnings results for the third quarter and nine months ended December 31, 2024. For the third quarter, the company reported sales was INR 18,474.1 million compared to INR 15,687.6 million a year ago. Revenue was INR 20,735 million compared to INR 17,718.4 million a year ago. Net income was INR 2,212.4 million compared to INR 3,171.8 million a year ago. Basic earnings per share from continuing operations was INR 22.39 compared to INR 32.11 a year ago.
For the nine months, sales was INR 52,994.2 million compared to INR 46,774.8 million a year ago. Revenue was INR 59,511 million compared to INR 52,736.2 million a year ago. Net income was INR 7,935.3 million compared to INR 10,240.8 million a year ago. Basic earnings per share from continuing operations was INR 80.32 compared to INR 103.67 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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