Adani Gas Ltd’s consolidated net profit jumps 61% to Rs 121.41 cr in Q4FY20
New Delhi: Adani Gas Ltd’s consolidated net profit jumped 61 percent to Rs 121.41 crore for fourth quarter of 2019-20 fiscal. It has clacked consolidated net profit of Rs 75.5 crore in the year-ago period.
The consolidated revenue from operations fell about 1 percent to Rs 490.32 crore in the fourth quarter of the 2019-20 fiscal as compared to Rs 494.17 crore, the company said in a regulatory filing.
For the entire fiscal 2019-20, the consolidated net profit of the company almost doubled to Rs 436.32 crore as compared to Rs 228.70 crore in the previous fiscal.
For the entire fiscal 2019-20, the consolidated total income of the company rose 6.5 percent to Rs 2,035.29 as against Rs 1,910.17 crore in the previous fiscal.
The company said in a statement that the corona virus pandemic and the lockdown has impacted the CNG and PNG demand in the country. Since gas distribution falls in the essential services category, Adani Gas Ltd will ensure that during this period of crisis, supply of PNG and CNG is maintained without any interruption.
“Adani Gas Limited is on its way to build a formidable network of CGD across the nation. It is truly gratifying to see the resilience of team AGL in maintaining the flow of essential services while ensuring safety during such trying times of COVID 19 Lockdown,” said Gautam Adani, Chairman, Adani Group.
“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,” said Suresh Manglani, CEO of Adani Gas Ltd.
Adani Gas retails CNG to automobiles and PNG to households and industries.