Mahanagar Gas Net Profit Up 203% In Q3, Board Declares Dividend Of <span Class='webrupee'>₹</span>10

With a market valuation of ₹8,395.62 Cr, Mahanagar Gas is a mid-size company that engages in the energy industry. One of India's top companies for natural gas distribution is Mahanagar Gas Limited (MGL). The company has declared its Q3 earnings today along with an interim dividend of Rs. 10 per share for the financial year 2022-2023.

The company said in a stock exchange filing that its Board of Directors has approved “Interim Dividend of Rs. 10/- per equity share having face value of Rs. 10/- each (i.e. 100%) for the Financial Year 2022-2023 and fixed Tuesday, 14th February 2023 as the Record Date for the purpose of determining the eligibility of shareholders for the Interim Dividend. The Interim Dividend for the Financial Year 2022-2023 shall be paid to all the eligible shareholders within 30 days from the date of declaration."

Net sales of Mahanagar Gas reached ₹1,838.44 crore in the quarter ended December 2022 up 63.72% YoY from Rs. 1,122.89 crore in the quarter ended December 2021. The company posted a net profit of ₹172.07 Cr in Q3FY23 as compared to ₹56.79 Cr in Q3FY22, registering a growth of 203% YoY. EPS of Mahanagar Gas reached ₹17.42 in Q3FY23 against ₹5.75 in the year-ago quarter. From ₹103.1 crore in Q3 FY22 to ₹256.1 crore in Q3 FY23, EBITDA grew by 148.40% YoY. Total volumes reached 313.88 SCM Million in Q3 FY23 whereas CNG volumes were 227.64 SCM Million, and the total PNG volumes were 86.24 SCM Million during the quarter under review.

On the NSE, the shares of Mahanagar Gas Limited closed today at ₹848.45 apiece level, down by 0.40% from the previous close of ₹851.85. The stock recorded a total volume of 643,454 shares compared to the 20-Day average volume of 197,947 shares. In the last 1 year, the stock has gained 0.71% and on a YTD basis it has gained 0.38% so far in 2023. The stock touched a 52-week-high of ₹925.00 on (16-Aug-2022) and a 52-week-low of ₹665.80 on (20-Jun-2022).