Ahmedabad, November 3, 2020: Adani Gas Ltd. [“AGL”] today announced the financial results for the second quarter ended 30th September 2020.
Standalone Financial Highlights:
|Particulars||UoM||Q2 FY21||Q2 FY20||% Change YoY||H1 FY21||H1 FY20||% Change YoY|
|Revenue from Operations||INR Cr||441||503||-12%||648||982||-34%|
|Profit before Tax [Before Exceptional Item]||INR Cr||192||125||54%||255||248||3%|
|Exceptional Item*||INR Cr||10||–||10||–|
|Profit before Tax||INR Cr||182||125||46%||245||248||-1%|
|Profit After Tax||INR Cr||136||120||13%||182||200||-9%|
*During the quarter ended on 30-Sep-20 the Company received an order dated 28th August 2020 from the Hon’ble Supreme Court of India with respect to Service Tax liability on gas connection income pertaining to FY 2008-09.
Commenting on the quarter result of the Company, Mr. Gautam Adani, Chairman, Adani Group said, “Our focus has never wavered from initiatives that are aligned with the nation’s agenda. A gas-based economy is beneficial not just on the sustainability front but also on several other fronts of national importance that include reduced health risk, wider and cleaner range of applications, energy efficiency, transportability as well as helping save foreign exchange given the global gas cost structures. I anticipate gas will be one of the key pillars that will enable India to get an energy mix that is cleaner and superior from multiple dimensions. We are committed to becoming a leader in this sector”.
Mr. Suresh P Manglani, CEO of Adani Gas said, “Adani Gas has reported highest ever financial performance with robust physical performance despite ongoing pandemic. The vision has always been to boost gas infrastructure and the city gas distribution network in order to reach all 19 geographical areas awarded to Adani Gas. We are actively pursuing the strategy of expanding PNG and CNG Infrastructure on fast track mode. Apart from PNG, we are consistently encouraging society to convert their vehicles to environmental- friendly CNG and contribute in reducing the carbon footprint.”