Mahanagar Gas Shares Surge As Profits Swell

Business

oi-Sunil Fernandes

Mahanagar Gas shares were up after the company reported a good set of numbers.

By Sunil Fernandes

Updated: Tuesday, November 29, 2016, 10:39 [IST]

Shares in Mahanagar Gas rallied after the company Q2 net profit surged 40.8 percent to Rs 102.2 crore versus Rs 72.6 crore (YoY). The shares of the company were last trading at Rs 801, up 5 per cent in trade.

Mahanagar Gas is the only distributor of piped Gas in the city of Mumbai. the company has connected almost 0.8 million, including hospitals, kitchens, restaurants through piped gas. the company is a joint venture of Gas Authority of India and BGAPH, which is a subsidiary of Royal Dutch Shell.

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