Mahanagar Gas Q1 Results Revenue at ₹1,832.15 Cr & Operating Income Falls to ₹353.46 Crore

Mahanagar Gas Growth Overview

Mahanagar Gas Q1 Results: In the Q1 results for June 2024, Mahanagar Gas showed several changes compared to previous periods. The company's total revenue was ₹1,832.15 crore, which is a YoY increase of 8.40% from ₹1,690.18 crore in June 2023. This means that compared to the same quarter last year, the revenue grew by 8.40%. However, compared to the previous quarter (March 2023), the revenue only increased by 3.43%.

When looking at operating income, Mahanagar Gas had ₹353.46 crore, which is a decrease of 23.03% YoY from ₹459.23 crore in June 2023. This indicates a significant drop in operating income compared to the same quarter last year. In contrast, compared to the previous quarter, the operating income improved by 15.02%.

Mahanagar Gas’s Net income for the quarter was ₹288.77 crore, which is 21.62% lower YoY compared to ₹368.40 crore in June 2023. This shows a decrease in net income compared to the same quarter last year. Yet, it is a 14.47% increase compared to the previous quarter’s net income of ₹268.81 crore. Overall, Mahanagar Gas had mixed results, showing YoY growth in revenue but declines in operating and net income YoY.

Here's a summary of Mahanagar Gas' Q1 results for June 2024:

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Mahanagar Gas Q1 Results

The financial results for Mahanagar Gas show how the company performed in the quarter ending June 30, 2024, compared to earlier periods. For this quarter, the company earned ₹1,744.57 crore from its main business activities and an additional ₹40.16 crore from other sources, totaling ₹1,784.73 crore in income. They spent ₹1,401.04 crore on various expenses, including buying natural gas, employee salaries, and maintenance costs. 

Mahanagar Gas’ After covering these costs, the company made a profit of ₹383.69 crore before taxes. After paying taxes of ₹99.16 crore, the net profit for the quarter was ₹284.53 crore. They also reported a small loss of ₹0.50 crore in other comprehensive income, which affects the overall profit. In total, the comprehensive income for the quarter was ₹284.03 crore.

Mahanagar Gas’ paid-up equity share capital remains at ₹98.78 crore, indicating the amount of money raised from shareholders. The "Other Equity Excluding Revaluation Reserve" stands at ₹5,044.09 crore, showing additional funds or reserves not related to asset revaluations. The earnings per share (EPS), which measures the company’s profit divided by the number of shares, was ₹28.80 for this quarter. This figure reflects the profit earned for each share owned by investors.

Here's the updated financial results of Mahanagar Gas, including the additional data:

(in Crore INR)

Mahanagar Gas Financial Metrics

The table shows key financial details about Mahanagar Gas. The company's market value is ₹18,633 Crore, which means it's worth this amount in the stock market. The current stock price is ₹1,886. It has reached a high of ₹1,912 and a low of ₹979 in recent times. The Price-to-Earnings Ratio (P/E) is 15.5, indicating how much investors are willing to pay for each rupee of earnings. The book value, which is the company's net asset value per share, is ₹521. It offers a dividend yield of 1.61%, meaning investors get this percentage of their investment as dividends. 

Here is the information in table format:

Quarterly Results

In the financial data for Mahanagar Gas, the results for December 2023, March 2024, and June 2024 show some changes. In December 2023, the company earned ₹1,569 crores in sales and had ₹1,120 crores in expenses, resulting in an operating profit of ₹449 crores. By March 2024, sales slightly decreased to ₹1,567 crores, and expenses increased to ₹1,173 crores, leading to a lower operating profit of ₹394 crores. 

Here’s a summary for December 2023, March 2024, and June 2024:

(Standalone Figures in Rs. Crores)

About Mahanagar Gas 

Mahanagar Gas is an Indian company that provides natural gas to various customers. Founded on May 8, 1995, it is based in Mumbai, Maharashtra, and operates in the Mumbai Metropolitan Region and nearby areas. The company is partly owned by GAIL (India), a major state-owned gas company, and the Government of Maharashtra.

MGL distributes Compressed Natural Gas (CNG) to around 770,000 vehicles, including buses, trucks, and private vehicles. It also supplies piped natural gas to about 1.53 million households for cooking and other uses. The company operates a large network of over 250 CNG stations and has a pipeline infrastructure of about 450 km of steel pipes and 470 km of polyethylene pipes.

For its natural gas supply, MGL sources its gas from various suppliers. Gas for domestic use comes from agreements with the Ministry of Petroleum and Natural Gas and GAIL, while industrial and commercial gas is obtained through the spot market or long-term contracts. MGL is known for being profitable and plays a crucial role in the natural gas sector in India.