Mahanagar Gas net profit rises 17% in third quarter on margin expansion

Mahanagar Gas Ltd's net profit for the December quarter rose 16.7% on year to 2.17 bln rupees on the back of higher margins even as sales volumes, particularly in the crucial compressed natural gas segment, did not recover fully to prepandemic levels. The city gas distributor's bottomline for OctDec was higher than analysts' estimate of 1.97 bln rupees.