Adani Gas rallies 15% on strong Q4 results; stock hits record high

The company posted 91% year-on-year growth in consolidated net profit at Rs 75.75 crore in Q4FY19, on back of 25% rise in operational revenue.

Shares of Adani Gas has rallied 15 per cent to Rs 164, also its record high on the BSE, after the company posted strong results for March quarter (Q4FY19).

The Gautam Adani-led city gas distribution (CGD) company posted a 91 per cent year-on-year (Y-o-Y) growth in consolidated net profit at Rs 75.75 crore in Q4FY19. Operational revenue grew 25 per cent at Rs 494 crore on Y-o-Y basis.

The company said it sold 14 per cent more CNG to automobiles and five per cent more piped cooking gas to household kitchens in the fourth quarter of 2018-19.

Adani Gas