Mumbai, January 28, 2025 – Mahanagar Gas Limited (NSE: MGL, BSE: 539957) has announced its Q3 FY25 financial results, reporting a net profit of ₹225.37 crore, while revenue from operations rose 7.9% year-on-year (YoY) to ₹1,929.01 crore. The company also declared an interim dividend of ₹12 per share (120% of face value ₹10), reflecting stable performance in the city gas distribution (CGD) sector.
Key Financial Highlights – Q3 FY25 (Standalone)
| Metric | Q3 FY25 | Q3 FY24 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹1,929.01 crore | ₹1,723.77 crore | +7.9% |
| Total Income | ₹1,975.30 crore | ₹1,771.84 crore | +11.5% |
| EBITDA | ₹314.42 crore | ₹398.52 crore | -21.1% |
| Net Profit (PAT) | ₹225.37 crore | ₹317.18 crore | -28.9% |
| Earnings Per Share (EPS) | ₹22.82 | ₹28.63 | -20.3% |
- Revenue: ₹5,550.99 crore (+7.9% YoY).
- Net Profit: ₹792.70 crore (-22.6% YoY).
Segment-Wise Performance & Business Highlights
1. CNG Sales Growth Continues
- CNG Sales: 268.56 million SCM, up 1.2% QoQ.
- CNG Revenue Contribution: ₹1,223.96 crore, accounting for 69.5% of total revenue.
2. PNG Business Expansion
- PNG Domestic: 50.70 million SCM, up 4.3% QoQ.
- PNG Industrial & Commercial: 59.43 million SCM, up 2.8% QoQ.
- Total PNG Revenue: ₹524.02 crore, growing 1.04% QoQ.
3. Financial Adjustments & Compliance Updates
- GAIL Pipeline Tariff Dispute: Ongoing litigation on ONGC’s Uran Trombay Natural Gas Pipeline charges. The company deposited ₹50 crore under protest and awaits the next hearing in February 2025.
- GST Demand: ₹54.33 crore liability dispute under RCM (Reverse Charge Mechanism) for road reinstatement charges, appeal in process.
Dividend Announcement
- Interim Dividend: ₹12 per share (120% of face value ₹10).
- Record Date: February 3, 2025.
- Dividend Payment Date: On or before February 14, 2025.
Management Commentary
Ashu Shinghal, Managing Director, Mahanagar Gas Limited, stated:"Despite external challenges, our steady revenue growth in the CNG and PNG segments reflects our resilience. With continued infrastructure expansion and a focus on operational efficiency, we remain committed to sustainable growth."
Strategic Outlook & Investor Focus
- Expanding City Gas Distribution (CGD) network in Maharashtra.
- Growing industrial & commercial PNG business to diversify revenue streams.
- Sustained efforts to resolve regulatory disputes and optimize cost structures.