Mahanagar Gas Q3 net profit down 73.85% at Rs 56.79 cr
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The company reported standalone net profit of Rs 56.79 crore for the quarter ended December 31, 2021 as compared to Rs 217.21 crore in the same period last year, registering a year-on-year decline of 73.85 per cent. Net revenue of the company rose substantially by 68.50 per cent at Rs 1,122.89 crore in October-December quarter of this fiscal as against Rs 666.40 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 191.64 per cent to Rs 1,019.79 crore from Rs 349.68 crore in year ago period. Other Income grew by 7.06 per cent at Rs 21.83 crore versus (Dec'20 Rs 20.39 crore). Operating Profit slipped by 67.45 per cent to Rs 103.10 crore as against Rs 316.72 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 80.69 per cent in December quarter. Interest declined by 10.47 per cent y-o-y to Rs 1.54 crore, while Taxation decreased by 75.17 per cent at Rs 18.39 crore (Dec'20 Rs 74.06 crore).
