Ashu Shinghal added that the 20 percent drop in net profit it reported for the fourth quarter was primarily due to lower availability of APM gas and CNG price reduction announced by the company.
This follows MGL s Rs 700 crore expenditure from the prior year. The company expects to establish approximately 50 new CNG stations. "Besides new stations, we are keen on renovating older facilities and expanding our PNG infrastructure," Shinghal said.