Mahanagar Gas Limited’s stock fell more than 3% following the release of its Q2 FY25 earnings, which revealed a 16.5% decrease in standalone net profit to ₹282.8 crore. Despite this decline, the company reported a 9% increase in net revenue from operations, totaling ₹1,711.62 crores compared to Q2 FY24.
The company’s EBITDA also fell by 16.8%, coming in at ₹282.8 crore, with the EBITDA margin dropping significantly to 23.28%, down 720 basis points year-on-year.
On a positive note, Mahanagar Gas saw its total sales volume rise 13.1% year-on-year to 371.85 SCM million in Q2 FY25. Specifically, CNG sales volume increased by 11.7% to 265.47 SCM million, while PNG sales volume surged 16.6% to 106.38 SCM million.
As of 11:46 am, Mahanagar Gas shares were trading 3.37% lower at Rs 1,491.00 on the NSE.
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