The media reported that MGL has hiked Compressed Natural Gas (CNG) price by Rs 5/kg and Piped Natural Gas (PNG) price by 4.50/Standard Cubic Metre (SCM).
CNG will now cost Rs 72/kg and domestic PNG is priced at Rs 45.50/SCM in and around Mumbai, reports added.
MGL is one of the Indias leading natural gas distribution companies. It has a natural gas distribution network in Mumbai and its adjoining areas. GAIL (India) (Maharatna Company of Govt. of India) is the promoter of MGL and holds 32.50% stake in the company.
MGLs net profit tumbled 74% to Rs 56.79 crore on 54.2% increase in net sales to Rs Rs 1,027.8 crore in Q3 FY22 over Q3 FY21.
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