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Mahanagar Gas expects to spend Rs 950 crore in FY25: MD Ashu Shinghal

Money Control

Money Control · 1y ago

Mahanagar Gas expects to spend Rs 950 crore in FY25: MD Ashu Shinghal

Mahanagar Gas Limited (MGL) plans to spend approximately Rs 950 crore in FY25 to enhance its infrastructure, including the construction of around 50 CNG pumps. The company aims to expand its geographical reach in Maharashtra and Karnataka after acquiring Unison Enviro Private Limited. MGL is also focusing on clean energy initiatives and is involved in partnerships for compressed biogas, liquefied natural gas stations, and electric vehicles. The FY25 capex will be funded through internal accruals. Despite scrutiny from the Petroleum and Natural Gas Regulatory Board, MGL has surpassed the targets for domestic PNG connections. The company is currently seeking an extension of its infrastructure exclusivity in Mumbai.

Related News

Mahanagar Gas, Gujarat Gas poised for gains as CNG adoption surges; Siddhartha Khemka sees 10-20% upside

Economic Times

Economic Times · 2m ago

Mahanagar Gas, Gujarat Gas poised for gains as CNG adoption surges; Siddhartha Khemka sees 10-20% upside

India's City Gas Distribution (CGD) sector is gaining momentum due to increased CNG adoption, infrastructure expansion, and cost benefits, as electric vehicles face global challenges. The CGD network's expansion, especially in tier-2/3 cities, supports its growth, with government backing ensuring stability. Mahanagar Gas and Gujarat Gas are poised for growth, focusing on CNG demand and strategic expansions. Mahanagar Gas aims for a 10% volume CAGR, while Gujarat Gas targets 12% CNG volume growth.

Mahanagar Gas falls 13% after Citi downgrades stock to 'Sell' from 'Buy'

Money Control

Money Control · 1y ago

Mahanagar Gas falls 13% after Citi downgrades stock to 'Sell' from 'Buy'

Shares of Mahanagar Gas Ltd dropped by more than 13% after Citi downgraded the stock to 'Sell' from 'Buy' and reduced its target price. The downgrade came as Oil Minister Hardeep Puri highlighted that the full benefits of natural gas sector reforms have not reached end customers. Puri emphasized the government's commitment to ensuring affordable rates and enforcing compliance by city gas companies. Citi expressed concerns about exclusivity and margins and expressed that it is closely monitoring potential downside catalysts over the next 90 days. The city gas licensing round is expected to require an investment of Rs 41,000 crore for infrastructure development.

Simplilearn posts slower growth in FY24, but cuts loss

Economic Times

Economic Times · 9m ago

Simplilearn posts slower growth in FY24, but cuts loss

Simplilearn, the online certification training course provider owned by Blackstone, reported slower growth for fiscal 2024 compared to the previous year, but managed to reduce its losses by more than half. The company's net loss for FY24 stood at Rs 107 crore, a 56% decrease from the previous year. Simplilearn focused on optimizing operations, exiting certain product lines, and reducing marketing spend. Despite slower growth, revenue increased by 10% to Rs 773 crore. The company aims to achieve profitability and generate around Rs 950 crore in revenue in the current fiscal year.

MGL stock gains 2% after city gas distributor hikes CNG, domestic PNG rates in Mumbai

Money Control

Money Control · 1y ago

MGL stock gains 2% after city gas distributor hikes CNG, domestic PNG rates in Mumbai

Mahanagar Gas Ltd (MGL) has announced a price hike for CNG and domestic piped natural gas (PNG) in Mumbai to offset rising input costs. The price of delivered CNG will increase by Rs 1.5 per kg, while domestic PNG will see a hike of Re 1/SCM. This increase is due to the additional cost incurred for importing natural gas. MGL stated that even with this hike, their prices for CNG and domestic PNG are still among the lowest in the country.

Infibeam Avenue reports 43% growth in PAT in Q1 FY25

Entrackr

Entrackr · 1y ago

Infibeam Avenue reports 43% growth in PAT in Q1 FY25

Fintech firm Infibeam Avenues on Friday released its financial results for the first quarter of the ongoing fiscal year (Q1 FY25). The company witnessed a 3.6% increase in gross revenue whereas its profit spiked 43% growth during the quarter ending June 2025. Infibeam Avenues’s gross revenue grew to Rs 753 crore in Q1 FY25 from Rs 727 crore in Q4 FY24, according to the company’s unaudited consolidated quarterly report filed with the National Stock Exchange. The payment business formed 93.6% of the total revenue which stood at Rs 705 crore in Q1 FY25 while the income from providing customized e-commerce solutions brought Rs 39.3 crore to its coffers. Infibeam claims to have over 10 million merchants, with an average daily addition of more than 2,550 merchants in Q1 FY25. At the end, its other operating and financial income pushed Infibeam Avenues’ overall revenue to Rs 781 crore in Q1 FY25 from Rs 743 crore in Q4 FY24. On the cost front, the operating expenses (including payment processing cost) formed 90% of the overall expenditure. This cost remained flat at Rs 634 crore in Q1 FY25. The firm’s spending on employee benefits, legal, and other overheads took its overall cost up by 3.5% to Rs 703 crore in Q1 FY25 from Rs 679 crore in Q4 FY24. The increase in other income and consistent growth in scale helped Infibeam to register a 42.9% spike in its profits to Rs 70 crore in Q1 FY25 from Rs 49 crore in Q4 FY24. On a unit level, The Ahmedabad-based company spent Rs 0.93 to earn rupee in Q1 FY25. The company also acquired a majority stake (54%) in Rediff.com. The acquired company will become a subsidiary of Infibeam Avenue. “With this synergy, we are poised to unlock new dimensions of growth, redefining the essence of cloud and fintech engagement,” said Vishal Mehta, Chairman and MD of Infibeam Avenues. Infibeam Avenue is currently trading at Rs 32.42 (as of 03.00 PM) and its total market capitalization stood at Rs 9,019 crore or $1.1 billion.

Yatra profit spikes 2.7X in Q4 FY25; revenue doubles

Entrackr

Entrackr · 3m ago

Yatra profit spikes 2.7X in Q4 FY25; revenue doubles

Yatra's profit surged 2.7 times in Q4 FY25, with revenue doubling year-on-year. Revenue from operations increased to Rs 219 crore in Q4 FY25 from Rs 108 crore in Q4 FY24. For FY25, operating revenue rose 87% to Rs 791 crore from Rs 422 crore in FY24. Total income for Q4 FY25 was Rs 228 crore, and FY25 total income stood at Rs 823 crore. Expenses totaled Rs 215 crore in Q4 FY25 and Rs 788 crore for FY25. The company's profit reached Rs 15 crore in Q4 FY25, up from Rs 5.5 crore in Q4 FY24. For FY25, Yatra reported a profit of Rs 36.5 crore against a loss of Rs 4.5 crore in FY24. Yatra's share price is Rs 98.23, with a market capitalization of Rs 1,541 crore.

BluSmart plans premium fleet after sales of Rs 376 cr in FY24

The Arc Web

The Arc Web · 9m ago

BluSmart plans premium fleet after sales of Rs 376 cr in FY24

BluSmart, an all-electric ride-hailing company, reported gross revenues of Rs 376 crore in FY24, a significant increase of 135% from the previous year. The company expects further growth with projected revenues of Rs 720 crore in FY25, driven by fleet expansion and expansion into new cities. BluSmart's average gross fare per ride was Rs 468 in FY24 and is expected to rise by 20% to Rs 561 in FY25 and reach Rs 789 by 2027. The company currently operates a fleet of 8,000 electric cabs and plans to raise funds to launch operations in Mumbai and other markets and introduce a premium fleet.

Mobility platform IntrCity raises Rs 37 crore in funding

Economic Times

Economic Times · 1y ago

Mobility platform IntrCity raises Rs 37 crore in funding

IntrCity, a mobility platform, has raised Rs 37 crore in a funding round led by Mirabilis Investment Trust, with participation from existing investors such as Nandan Nilekani’s family trust and Omidyar Network India. The funding will be used to strengthen the firm's reserves as it nears profitability and for potential expansion or acquisitions. IntrCity aims to achieve over Rs 300 crore in revenue and an EBITDA of about Rs 5 crore by the end of FY24 and expects revenue to grow to about Rs 450 crore in FY25.

Broker Research Reports, Stocks/Shares Research Reports, Indian Stocks/Shares Research Reports

Money Control

Money Control · 1y ago

Broker Research Reports, Stocks/Shares Research Reports, Indian Stocks/Shares Research Reports

In a recent research report, Sharekhan has recommended a buy rating on KEC International, with a target price of Rs 850. Similarly, Godrej Consumer Products has a buy rating from Sharekhan, with a target price of Rs 1455. Other stocks with buy ratings include Bajaj Auto, Zydus Lifesciences, Nippon Life India Asset Management, Mahanagar Gas, HDFC Bank, ISGEC Heavy Engineering, and NTPC. On the other hand, there are some stocks that have been given a reduce or hold rating, such as Tata Motors, Vinati Organics, and Zee Entertainment Enterprises.

62 EV Startups That Are Helping Keep The Earth Healthy And Clean

Inc42 · 1y ago

62 EV Startups That Are Helping Keep The Earth Healthy And Clean

ASK Property charts exit roadmap for maiden special situations fund Premium Amit Bhagat, MD & CEO, ASK Property Fund The real estate investment arm of Blackstone-backed ASK Wealth and Asset Management expects to exit a special situations fund in a year, a top executive told VCCircle. ASK Property Fund, the real estate private equity investment arm of Mumbai-based ASK Group, raised about Rs 843 crore for ASK Real Estate Special ......

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