Adani Gas Ltd Q1FY21 consolidated PAT falls to Rs. 38.91 crores

Adani Gas Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.214.94 crores during the period ended June 30, 2020 as compared to Rs.502.05 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.38.91 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.121.41 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.0.35 for the period ended June 30, 2020 as compared to Rs.1.10 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 214.94 crs	₹ 502.05 crs	-57.19%
Net Profit	₹ 38.91 crs	₹ 121.41 crs	-67.95%
EPS	₹ 0.35	₹ 1.10	-68.18%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.214.94 crores during the period ended June 30, 2020 as compared to Rs.489.71 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.38.91 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.79.31 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.0.35 for the period ended June 30, 2020 as compared to Rs.0.72 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 214.94 crs	₹ 489.71 crs	-56.11%
Net Profit	₹ 38.91 crs	₹ 79.31 crs	-50.94%
EPS	₹ 0.35	₹ 0.72	-51.39%

Commenting on the quarter result of the Company, Mr. Gautam Adani, Chairman, Adani Group said, "Adani Gas Limited has delivered a good performance even amidst the global pandemic. Commitment to sustainability is the cornerstone of the growth which AGL is set to chart. Our strategy is designed to deliver growth with goodness while contributing to the larger objective of nation building. In line with the Government's policy we are committed to contribute to the nation's vision of providing a safer, cleaner and greener energy. As India's economy slowly revitalizes, Adani Gas will put its best to overcome challenges posed by the global pandemic as a nation".

Mr. Suresh Manglani, CEO of Adani Gas said, "We are watchful of the ongoing pandemic situation for Covid-19. As a responsible natural gas service provider, Adani Gas Limited has ensured continuous supply of CNG and PNG, uninterrupted and prompt customer care service during these tough times. Adani Gas Limited has delivered a sustainable performance in Q1 FY21 despite the impact on PNG Industrial & Commercial and CNG segments. The company is continuously and closely monitoring the developments and is actively working to moderate the impact of this unprecedented situation. We have resumed project and operational activities in phased manner which were ceased in March'20 on account of lockdown, to meet our commitments towards development of city gas distribution in the new geographical areas (GAs) and contribute towards the nation building & providing clean energy for all".

Shares of Adani Gas Ltd was last trading in BSE at Rs.158.55 as compared to the previous close of Rs. 159.4. The total number of shares traded during the day was 219600 in over 3749 trades.

The stock hit an intraday high of Rs. 162.1 and intraday low of 156.35. The net turnover during the day was Rs. 35044238.

Source : Equity Bulls

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