May 8, 2020

Adani Gas Q4 results: Net profit jumps 60% to Rs 121 crore

Adani Gas Q4 results: Net profit jumps 60% to Rs 121 crore

NEW DELHI: Adani Gas on Friday posted a 60.27 per cent year-on-year (YoY) rise in consolidated net profit at Rs 121.41 crore for the quarter ended March 31. The figure stood at Rs 75.75 crore in the corresponding quarter last year.

Total income of the company remained almost stable at Rs 502.05 crore against 505.81 crore. Total tax expenditure declined 23 per cent to Rs 34.03 crore.

Gautam Adani, Chairman, Adani Group, said: “Adani Gas is on its way to build a formidable network of CGD (city gas distribution) across the nation.”

Suresh Manglani, CEO, Adani Gas, said: “Adani Gas has stood firm with its consumers and government authorities in ensuring uninterrupted supply of PNG and CNG during these challenging times of Covid-19. The company will look forward to significant synergy to be explored between city gas distribution and retail fuel.”

Shares of the company traded nearly 4 per cent up at Rs 108.15 after the quarterly results, while the benchmark BSE Sensex traded 0.91 per cent higher at 31729 at around 2.20 pm (IST).

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