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Revenue from operations increased 6.09% to Rs 1,690.18 crore in Q1 FY23 from Rs 1,593.18 crore in Q1 FY23.
Profit before tax stood at Rs 495.67 crore in Q1 FY24, up 98.59% YoY from Rs 249.59 crore posted in Q1 FY23.
EBITDA jumped 82.55% to Rs 521.27 crore in Q1 FY24 from Rs 285.55 crore in Q1 FY23. EBITDA margin was 33.90% in Q1 FY24 as against 19.63% in Q1 FY23.
Total volumes decreased by 1.04% to 310.50 SCM Million in Q1 FY24 over Q1 FY23. CNG volumes were 225.81 SCM Million (down 2.28%) while the total PNG volumes were 84.68 SCM Million (up 2.45%) during the period under review.
Mahanagar Gas (MGL) is one of India's leading natural gas distribution companies. It has a natural gas distribution network in Mumbai and its adjoining areas. GAIL (India) (Maharatna Company of Govt. of India) is the promoter of MGL and holds 32.50% stake in the company, as on 30 June 2023.
The scrip slipped 4.79% to currently trade at Rs 1,068 on the BSE.
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