Mahanagar Gas Profit Drops 39% Year-On-Year To ₹192.64 Crore In Q1 FY27
· Free Press Journal
Mumbai: Mahanagar Gas Limited announced on Thursday a consolidated net profit of ₹192.64 crore for the quarter ended 30 June 2026, marking a significant decrease from ₹318.58 crore in the same quarter last year. Consolidated total income for the period stood at ₹2,629.33 crore.
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Revenue Performance
Consolidated revenue from operations for the first quarter of fiscal year 2027 was ₹2,598.90 crore, an increase of 13.92% compared to ₹2,282.07 crore reported in the quarter ended 30 June 2025. Quarter-on-quarter, revenue from operations increased 15.05% from ₹2,258.90 crore in the preceding quarter.
Bhiwandi: Mahanagar Gas Drilling Damages Main Water Pipeline; Massive Water Loss Raises Supply Disruption Fears Across Several AreasExpenses and PAT
Consolidated total expenses for the quarter rose to ₹2,371.01 crore, up from ₹1,882.05 crore in the year-ago period. Consolidated profit after tax (PAT) was ₹192.64 crore for the quarter, down from ₹318.58 crore year-on-year, while earnings per share (EPS) declined to ₹19.54 from ₹32.26.
Board Meeting and Filings
The board meeting commenced at 1100 hours and concluded at 1350 hours on 30 July 2026. The unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, along with an Independent Auditor's Limited Review Report, were attached to the announcement.
Mahanagar Gas Withdraws All Subsidies And Support Schemes For Commercial PNG And CNG Customers With Immediate EffectAcquisition of Equity Stake
On 9 March 2026, Mahanagar Gas signed an SSA & SHA with FPEL Reliant Energy Private Limited and its holding company FPEL Saur Vidyut Private Limited, to acquire a 26% equity stake in FPEL Reliant as a 'captive user'. During the current quarter, the company invested ₹3.89 crore in FPEL Reliant.
Litigation Update
The Hon'ble High Court has rescheduled the next hearing regarding the disputed transportation tariff demand from GAIL (India) Limited to 13 August 2026. Mahanagar Gas believes it has a strong case and does not expect any outflow of resources, so no provision has been recognised.
Other Investments
The company has invested ₹83.99 crore in 3EV Industries Private Limited, holding a 26.13% equity stake. This comprises ₹83.00 crore in Compulsorily Convertible Preference Shares and ₹0.99 crore in Optionally Convertible Debentures during the current quarter.
Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes. It does not constitute investment advice or a recommendation to buy, sell or hold any security.