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Indraprastha gas mulls to buy BG's Mahanagar Gas stake

24 Nov 2011 Evaluate

Indraprastha Gas, Delhi based city-gas distributor jointly promoted by GAIL and Bharat Petroleum Corporation, is likely to pick up BG's stake in Mumbai based gas retailer Mahanagar Gas (MGL). GAIL is also a contender for BG's 65% stake in Gujarat Gas. The company has already discussed the intention with GAIL.

MGL offers piped-natural gas to around five lakh domestic customers and 1,200 small commercial and industrial establishments in Mumbai and adjoining areas. It also supplies CNG to 2 lakh vehicles through 150 filling stations and 750 dispensing points across Mumbai, Thane, Mira-Bhayander and Navi Mumbai.

The company’s net profit after tax has registered growth of 16.52% at Rs 77.22 crore for the quarter under review as compared to Rs 66.28 crore for the quarter ended September 30, 2010. Its total Income has increased by 33.90% at Rs 598.99 crore for the September quarter of the current fiscal as compared to Rs 447.33 crore for the corresponding quarter of the previous fiscal.

Indraprastha Gas Share Price

169.25 3.15 (1.90%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
GAIL India 157.80
Gujarat Gas 362.60
Indraprastha Gas 169.25
Mahanagar Gas 1125.45
Adani Total Gas 632.90
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