Mahanagar Gas Q1 Profit Jumps 28.6% QoQ; Shares Rise Over 3%

Mahanagar Gas Ltd. reported a strong set of numbers for the first quarter of FY26, with net profit rising 28.6% quarter-on-quarter to Rs 324 crore, driven by improved margins and operational efficiency. The company’s stock responded positively, climbing 3.29% during Tuesday’s trade.

The Mumbai-based city gas distributor posted revenue of Rs 1,980 crore for the April–June period, up 6% from Rs 1,865 crore in the previous quarter. Ebitda rose 28.3% to Rs 485 crore, while margins expanded to 24.6% from 20.3%, reflecting better cost management and pricing discipline.

The company also reported a one-off gain of Rs 113 crore in its topline, the company also reported reversal of trade discounts to oil marketing companies in first quarter.

MGL’s performance comes amid rising demand for cleaner fuels in urban and industrial segments. The company supplies compressed natural gas for vehicles and piped natural gas for domestic and commercial use across Mumbai and adjoining areas. It operates a network of over 300 CNG stations and continues to expand its infrastructure footprint to meet growing energy needs.