Adani Gas, Gujarat Gas, IGL ride strong Q4 earnings to hit record highs

While Adani Gas rallied 9% to hit Rs 180 per share, Gujarat Gas soared 6% to quote Rs 195 apiece on the BSE in intra-day trade on Monday.

Shares of gas distribution companies – Adani Gas, Gujarat Gas Company and Indraprastha Gas (IGL) – hit their respective record highs on the BSE on Monday, after reporting strong earnings in March quarter (Q4FY19).

Adani Gas rallied 9 per cent intra-day to quote Rs 180 apiece during the afternoon session, extending its previous week’s gaining streak of 21 per cent. The Gautam Adani-led city gas distribution (CGD) company logged a 91 per cent year-on-year (Y-o-Y) growth in consolidated net profit at Rs 75.75 crore in Q4FY19 from Rs 39.65 crore in previous year quarter.

While operational revenue grew 25 per