Mahanagar Gas Q2 Results: Consolidated net profit falls 33% YoY, revenue up at ₹2,256 crore

Mahanagar Gas Limited on Wednesday, October 29, reported a net profit of ₹191 crore for the second quarter of the current financial year (Q2 FY26), down 33.45% from ₹287 crore posted in the year-ago period.

The company's revenue from operations, however, jumped 14.9% year-on-year (YoY) to ₹2,256 crore during the September quarter, rising from ₹1,963 crore posted in Q2 FY25.

Its Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at ₹338 crore at the end of the July-September quarter, down 18.2% YoY from ₹413 crore. Margin was at 14.97% against 21.06% in the same quarter last year.

Sequentially, the net profit of the company dropped 40% YoY from ₹318 crore posted in Q1 FY26. Revenue was at ₹2,083 crore at the end of the June quarter, marking an increase of 1.1% in Q2.

Earlier in October, Oil India Ltd and Mahanagar Gas Ltd (MGL) signed a Memorandum of Understanding (MoU) to collaborate on ventures across India's liquefied natural gas (LNG) value chain and emerging clean energy segments.

Mahanagar Gas shares

Shares of Mahanagar Gas ended 0.43% up at ₹1,296.50 apiece on the NSE on Wednesday. The company announced the Q2 FY26 results post-market hours.

The company's market capitalisation stands at ₹12,806.54 crore.

Over the last five days, the stock has jumped 0.36%, while it is currently up 2.93% when compared to a month ago.

In the past six months, however, the scrip has fallen 2.29%. Year-to-date, the stock is up 1.11%.

Mahanagar Gas' shares were at their 52-week high of ₹1,586.90 apiece on July 4, 2025, while they hit their 52-week low mark of ₹1,075.25 on November 18 last year.

Mahanagar Gas Limited (MGL) is a leading Indian natural gas distribution company that provides Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) in Mumbai. Established in 1995, it is a joint venture between GAIL (India) Limited and the Government of Maharashtra.