StocksMedium•3 November 2026•
1 min read
Mahanagar Gas Q2 Profit Drops 29% as Rising Procurement Costs Squeeze Margins
Key Facts
1Mahanagar Gas reported a 29.4% decline in Q2 net profit to ₹137 crore.
2Revenue increased 7% to ₹2,537 crore driven by higher CNG and PNG volumes.
3Gas procurement costs rose 34% year-on-year, putting pressure on profit margins.
Mahanagar Gas reported a 29.4% decline in Q2 net profit to ₹137 crore. NDTV Profit reported that the company's revenue increased by 7% to ₹2,537 crore, supported by higher sales volumes in both compressed natural gas (CNG) and piped natural gas (PNG) segments.
Gas procurement costs surged by 34% year-on-year, which pressured the company's profit margins during the quarter. Shares of Mahanagar Gas showed positive momentum following the results on November 3, 2026, rising over 3% to reach ₹1,072.30 on the NSE as investors weighed strong volume growth against the profit miss.