Adani Gas declines 4% after Q1 net profit falls 42% YoY to Rs 46 crore

Adani Gas said piped natural gas home connections increased to 4.38 lakh (979 new connections in Q1 FY21). Commercial and industrial connections increased to 4,448 during the period under review

Adani Gas slipped nearly 4 per cent to Rs 152.5 on the BSE on Thursday, a day after the company reported a 49 per cent decline in its profit before tax (PBT) for the June quarter, at Rs 62.58 crore, against Rs 122.7 crore in the corresponding period of the previous fiscal.

Net profit for the company fell 42 per cent to Rs 46.33 crore and earnings before interest, tax, depreciation, and amortisation (EBITDA) slipped 41 per cent to Rs 86 crore. CLICK HERE TO READ FULL REPORT
 

At 09:34 AM, the stock was trading over 2 per cent