Mahanagar Gas Limited Reports Earnings Results for the Third Quarter Ended December 31, 2018
January 29, 2019 at 06:47 pm IST
Share
Mahanagar Gas Limited announced earnings results for the third quarter ended December 31, 2018. For the third quarter, the company announced total revenue was INR 8,447.2 million compared to INR 6,523 million a year ago. Net income was INR 1,483.2 million compared to INR 1,239.8 million a year ago. Basic earnings per share was INR 15.02 compared to INR 12.55 a year ago. For the nine months, total revenue was INR 23,174.3 million compared to INR 18,494.7 million a year ago. Net income was INR 4,129.4 million compared to INR 3,731.1 million a year ago. Basic earnings per share was INR 41.8 compared to INR 37.77 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.
MAHANAGAR GAS LIMITED 
