Mahanagar Gas Ltd (MGL) reported a weak set of Q4 FY26 earnings, with profitability and operating margins declining sharply on a quarter-on-quarter (QoQ) basis due to pressure on operating performance.
The company posted net profit of ₹130 crore in the March 2026 quarter, down 35.4% compared to ₹201 crore reported in the December 2025 quarter.
Revenue for the quarter stood at ₹2,052 crore, registering a marginal decline of 0.4% QoQ from ₹2,060 crore in the previous quarter.
MGL’s EBITDA declined 26.1% sequentially to ₹260 crore against ₹352 crore reported in Q3 FY26, indicating weaker operational efficiency during the quarter.
EBITDA margin also contracted significantly to 12.7% in Q4 FY26 from 17.1% in the preceding quarter, reflecting rising cost pressures and softer profitability.
The decline in earnings and margins comes despite relatively stable revenue, highlighting pressure on the company’s operating performance during the quarter ended March 2026.
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