Mahanagar Gas jumps on reporting 84% rise in Q3 net profit
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Mahanagar Gas is currently trading at Rs. 1342.60, up by 30.35 points or 2.31% from its previous closing of Rs. 1312.25 on the BSE.
The scrip opened at Rs. 1343.85 and has touched a high and low of Rs. 1351.00 and Rs. 1304.65 respectively. So far 23058 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1353.80 on 23-Jan-2024 and a 52 week low of Rs. 831.00 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1353.80 and Rs. 1243.50 respectively. The current market cap of the company is Rs. 13257.46 crore.
The promoters holding in the company stood at 32.50%, while Institutions and Non-Institutions held 58.08% and 9.42% respectively.
Mahanagar Gas has reported results for third quarter ended December 31, 2023 (Q3FY24).
The company has reported 84.33% rise in net profit at Rs 317.18 crore for the quarter ended December 31, 2023 as compared to Rs 172.07 crore for the same quarter in the previous year. However, total income of the company decreased by 5.28% at Rs 1771.84 crore for Q3FY24 as compared Rs 1,870.69 crore for corresponding quarter of the previous year.
Mahanagar Gas is in the business of City Gas Distribution (CGD), supplying natural gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.
