Adani Gas profit declines 42% in June quarter as lockdown impacts sales

Gas sales volumes dropped to 64 million standard cubic meters in the first quarter of fiscal year beginning April 2020, from 137 mmscm in the same period a year back.

Adani Gas Ltd, the city gas utility of Adani Group, on Wednesday reported a 42 per cent drop in June quarter net profit as sales volumes got impacted because of the coronavirus lockdown.

Net profit of Rs 46 crore in April-June compared with Rs 79 crore net profit a year back, the company said in a statement.

"With continued lockdown of 69 days in Q1 FY21 the company witnessed volume impact of 53 per cent as compared to Q1 FY20," it said.

Gas sales volumes dropped to 64 million standard cubic meters in the first quarter of fiscal year beginning