Mahanagar Gas Q2 results: Net profit falls 29.5% QoQ to ₹136 crore, revenue advances 7%

In the preceding quarter of the current fiscal year, the company had clocked a profit of ₹193 crore, according to a regulatory filing.

Annually, its profit fell 28.9% year-on-year (YoY) from ₹191.37 crore in the first quarter of FY27 (Q1 FY27).

However, its consolidated revenue from operations advanced 6.9% QoQ to ₹2,778.05 crore during the quarter under review, compared with ₹2,598.90 crore in the June quarter of FY27 (Q1 FY27).

It surged 23.12% YoY from ₹2,256.36 crore in the second quarter of the 2025-26 fiscal year (Q2 FY26).

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹305 crore in the quarter ended September 30, 2026, registering an 11% QoQ drop from ₹343 crore in the June quarter of FY27.

The EBITDA declined 4% YoY from ₹338 crore in the September quarter of FY26.

The company saw its consolidated total expenses soar 9.56% QoQ to ₹2,597.69 crore for the reporting quarter, as against ₹2,371.01 crore in the first quarter of FY27. It surged 28.12% YoY from ₹2,027.60 crore in the three months ended September 30, 2025.

Mahanagar Gas share performance

Shares of the natural gas distribution company closed 1.57% higher at ₹1,055.90 per unit on the National Stock Exchange (NSE) on Tuesday, November 3. However, the results were declared after the market closed.

The scrip has lost nearly 2% in the past week but gained 6% over the month. On a year-to-date (YTD) basis, it has tumbled 31%.

While the stock hit a 52-week high of ₹1,081.30 per equity share on November 4, 2025, it touched a year’s low of ₹599.60 apiece on October 13, 2026.

Mahanagar Gas Ltd has a total market capitalisation of ₹8,351.72 crore as of November 3, 2026, according to data on the NSE.