Adani Gas Ltd posts consolidated PAT of Rs. 134.31 crore in Q2

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

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.449.20 crores during the period ended September 30, 2020 as compared to Rs.214.94 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.134.31 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.38.91 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.1.22 for the period ended September 30, 2020 as compared to Rs.0.35 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 449.20 crs	₹ 214.94 crs	108.99%
Net Profit	₹ 134.31 crs	₹ 38.91 crs	245.18%
EPS	₹ 1.22	₹ 0.35	248.57%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.449.20 crores during the period ended September 30, 2020 as compared to Rs.514.43 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.134.31 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.120.06 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.1.22 for the period ended September 30, 2020 as compared to Rs.1.09 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 449.20 crs	₹ 514.43 crs	-12.68%
Net Profit	₹ 134.31 crs	₹ 120.06 crs	11.87%
EPS	₹ 1.22	₹ 1.09	11.93%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.664.14 crores during the 6 months period ended September 30, 2020 as compared to Rs.1004.14 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.173.22 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.199.37 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.1.58 for the 6 months period ended September 30, 2020 as compared to Rs.1.81 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 664.14 crs	₹ 1004.14 crs	-33.86%
Net Profit	₹ 173.22 crs	₹ 199.37 crs	-13.12%
EPS	₹ 1.58	₹1.81	-12.71%

Commenting on the quarter result of the Company, Mr. Gautam Adani, Chairman, Adani Group said, "Our focus has never wavered from initiatives that are aligned with the nation's agenda. A gas-based economy is beneficial not just on the sustainability front but also on several other fronts of national importance that include reduced health risk, wider and cleaner range of applications, energy efficiency, transportability as well as helping save foreign exchange given the global gas cost structures. I anticipate gas will be one of the key pillars that will enable India to get an energy mix that is cleaner and superior from multiple dimensions. We are committed to becoming a leader in this sector".

Mr. Suresh P Manglani, CEO of Adani Gas said, "Adani Gas has reported highest ever financial performance with robust physical performance despite ongoing pandemic. The vision has always been to boost gas infrastructure and the city gas distribution network in order to reach all 19 geographical areas awarded to Adani Gas. We are actively pursuing the strategy of expanding PNG and CNG Infrastructure on fast track mode. Apart from PNG, we are consistently encouraging society to convert their vehicles to environmental-friendly CNG and contribute in reducing the carbon footprint."

Shares of Adani Gas Ltd was last trading in BSE at Rs.222.85 as compared to the previous close of Rs. 219.45. The total number of shares traded during the day was 265311 in over 9533 trades.

The stock hit an intraday high of Rs. 228.3 and intraday low of 219.35. The net turnover during the day was Rs. 59307472.

Source : Equity Bulls

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