Mahanagar Gas declares dividend of ₹18, net profit at ₹265 crore in Q4

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

State-run Mahanagar Gas Ltd (MGL) on Thursday (May 9) reported a 16.5% quarter-on-quarter dip in net profit at ₹265 crore for the fourth quarter that ended March 31, 2024.

In the third quarter, Mahanagar Gas posted a net profit of ₹317 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹297 crore for the quarter under review.

The company’s revenue from operations dipped 0.3% to ₹1,567.1 crore in Q4 of FY24 as against ₹1,569 crore in Q3 of FY24. CNBC-TV18 poll had predicted revenue of ₹1,540 crore for the quarter under review.

Also Read: Tata Power Q4 Results | Net profit jumps 15% to ₹895 crore, declares dividend of ₹2

At the operating level, EBITDA fell 12.2% to ₹393.8 crore in the fourth quarter over ₹449 crore third quarter. CNBC-TV18 poll had predicted an EBITDA of ₹418 crore for the quarter under review.

EBITDA margin stood at 25.1% in the reporting quarter as compared to 28.6% in the corresponding quarter. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 27.1% for the quarter under review.

The board has approved a final dividend of ₹18 per equity share having a face value of ₹10 each (i.e.180%) for the financial year 2023-24. This is in addition to the interim dividend of ₹12 per equity share (i.e. 120%) paid to all the eligible equity shareholders on January 23, 2024.

Also Read: IRB Infrastructure Q4 Results | Net profit surges 45%, dividend declared

Accordingly, the total dividend for the financial year 2023-24 will be ₹30 per equity share having a face value of ₹10 each (i.e. 300%), the company added.

The results came after the close of the market hours. Shares of Mahanagar Gas Ltd ended at ₹1,343.30, down by ₹35.55, or 2.58% on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow