India's Mahanagar Gas slips as Q4 profit nearly halves

Mahanagar Gas

08/05/2026 06:07

** Shares of Mahanagar Gas MGAS.NS down 1.7% to 1,159.6 rupees

** Natural gas distributor's Q4 profit nearly halves to 1.32 billion rupees ($13.97 million); rev from ops up 10.7% to 22.58 billion rupees

** Co's total expenses climbed 13.7% during the quarter

** J.P. Morgan ("Neutral"; PT: 980 rupees) notes gas costs rose more than expected in the March qtr and are likely to climb further in the June qtr, creating near-term margin pressure

** Stock rated as "Buy" on average by 29 analysts; median PT at 1,420 rupees, as per data compiled by LSEG

** YTD, stock up 2.3%

($1 = 94.5163 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))