MGL's PAT registers growth of over 32% on y-o-y basis; announces final dividend of Rs 16/equity share

New Delhi: State-owned Mahanagar Gas Limited (MGL) said in a regulatory filing that it declared its financial results for the quarter that ended on March 31. Further, the filing noted that the company's profit after tax (PAT) increased to 790.05 crores in FY23 from Rs 596.95 crores in FY22, registering a growth of 32.34 percent. On q-o-q basis, its PAT surged from Rs 172.07 crores to Rs 268.81 crores.

MGL's revenue from operations surged from Rs 3,884.9 crores to Rs 6,920.96 crores, registering a growth of 78.15 percent on y-o-y basis. However, the revenue from operations decreased from Rs 1,838.44 crores in Q3FY23 to Rs 1,771.81 crores, registering a decline of 3.6 percent on q-o-q basis.

MGL's total expenses increased on an annual basis from Rs 3,164.38 crores in FY22 to Rs 5,977.30 crores in FY23. However, the total expenses were reduced from Rs 1,643.29 crores in Q3FY23 to Rs 1,448.15 crores in Q4FY23.

MGL declares final interim dividend of Rs 16 per equity share

The company also declared a final interim dividend of Rs 16 per equity share for the FY23, the filing noted. Further, it added, "This is in addition to the Interim Dividend of Rs 10 per equity share (i.e. 100%) paid to all the eligible equity shareholders, as declared by the Board of Directors at its meeting held on February 2. Accordingly, the total dividend for the Financial Year 2022- 2023 will be Rs 26 per equity share."

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)