Mahanagar Gas Q4 net profit soars to Rs 269 crore; declares final dividend

Mahanagar Gas Q4 Results: Mahanagar Gas Limited on Monday (May 8, 2023) released its financial results for the quarter ended March 2023. The company posted a 104 per cent jump in its profit after tax (PAT) for the January-March quarter, a rise to Rs 268.81 crore in FY23 Q4 from Rs 131.80 crore in corresponding quarter last year. The company's YoY profit also jumped 32.34 per cent, from Rs 596.95 crore to Rs 790.05 crore.  

Mahanagar Gas' total income in the fourth quarter soared 49 per cent to Rs 1,805.45 crore from Rs 1201.30 crore in the corresponding period last year.

While the YoY income was up 77 per cent to Rs 7,032.84 crore in FY23 from Rs 3,970 crore last fiscal.

The company's revenue from operations were up 49 per cent, from Rs 1,187.60 crore to Rs 1,771.81 crore in the quarter under review. 

Mahanagar Gas in its filing said that its expenses jumped from Rs 1029.91 crore to Rs 1448.15 crore in the fourth quarter. 

The company's share fared well today (May 8, 2023) as it rose 2.18 per cent from Rs 979.60 to the closing price of Rs 1,001.  

Mahanagar Gas also announced a final dividend of Rs 16 (160 per cent) per equity share having face value of Rs 10 each for the financial year 2022-23. 

Also read: Mahanagar shares rise after robust Q4 result