{"id":57562,"date":"2022-08-06T18:06:00","date_gmt":"2022-08-06T12:36:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=57562"},"modified":"2022-08-06T18:03:18","modified_gmt":"2022-08-06T12:33:18","slug":"biz-results-mgl","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-mgl\/","title":{"rendered":"Mahanagar Gas Q1 Results: Net profit falls 9% on higher gas cost"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1804356305\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mahanagar Gas Ltd, which retails CNG and piped cooking gas in Mumbai and other cities, on Saturday reported a 9 per cent drop in its June quarter net profit as higher gas cost negated a rise in sales.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1274498253\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Net profit of Rs 185.20 crore in April-June compared with Rs 204.08 crore in the same period a year back, according to a company&#8217;s stock exchange filing.<\/p>\n<p>Revenue from operations soared more than twofold to Rs 1,613.19 crore.<\/p>\n<p>Cost of natural gas, which is converted into CNG for sale to automobiles and piped natural gas for sale to households for cooking, jumped to Rs 1,004.53 crore from Rs 191.04 crore last year. This is because global energy prices soared after Russia invaded Ukraine.<\/p><div class=\"trade-content_5\" id=\"trade-709333097\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>MGL said total gas sales jumped nearly 44 per cent to 313.75 million cubic meters with CNG sales soaring 64 per cent. EBITDA fell 6 per cent to Rs 285.55 crore in April-June. PTI ANZ MR MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2229852240\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mahanagar Gas Ltd, which retails CNG and piped cooking gas in Mumbai and other cities, on Saturday reported a 9 per cent drop in its June quarter net profit as higher gas cost negated a rise in sales. Net profit of Rs 185.20 crore in April-June compared with Rs 204.08 crore in the same period [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-57562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mahanagar Gas Q1 Results: Net profit falls 9% on higher gas cost - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-results-mgl\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mahanagar Gas Q1 Results: Net profit falls 9% on higher gas cost\" \/>\n<meta property=\"og:description\" content=\"Mahanagar Gas Ltd, which retails CNG and piped cooking gas in Mumbai and other cities, on Saturday reported a 9 per cent drop in its June quarter net profit as higher gas cost negated a rise in sales. 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