State-run gas distributor Mahanagar Gas Ltd (MGL) on Friday (October 27) reported a 106% year-on-year (YoY) jump in net profit at ₹338.5 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Mahanagar Gas posted a net profit of ₹164 crore, the company said in a regulatory filing. The company's revenue from operations increased 0.5% to ₹1,570.9 crore as against ₹1,562.6 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 89.4% to ₹478.9 crore in the second quarter of this fiscal over ₹252.8 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 30.5% in the reporting quarter as compared to 16.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The results came after the close of the market hours. Shares of Mahanagar Gas Ltd ended at ₹989.00, down by ₹0.70, or 0.071%, on the BSE.