Adani Gas profit before tax dips 49% to Rs 62.58 crore in June quarter

Topics Adani Gas | Q1 results | EBITDA

Revenue from operations for the company fell in tandem to Rs 207 crore in the quarter under review — a dip of 57 per cent
Adani Gas reported a 49 per cent dip in profit before tax for the June quarter, at Rs 62.58 crore, against Rs 122.7 crore in the corresponding period last year.

Profit after tax for the company also fell 42 per cent to Rs 46.33 crore. Earnings before interest, tax, depreciation, and amortisation was at Rs 86 crore — a hit of 41 per cent.

Sales for Adani Gas also took a hit, with volumes down 53 per cent. Revenue from operations for the company also fell in tandem to Rs 207 crore in the quarter under review — a dip of 57 per cent. Executives from the company in an earning call said the trend for sales volumes had seen constant improvement since the relaxation of the nationwide lockdown starting April 22. 

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel