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NEW DELHI :
Adani Gas shares on Thursday fell practically 4% after the corporate reported 42% drop in its web profit for the primary quarter ended June 30 of fiscal yr 2021.
On the BSE, the inventory of Adani Gas declined 3.81% to Rs152.50. On the NSE, it fell 3.75% to Rs152.55.
The Adani Group firm’s profit plunged 42% at Rs46 crore within the April-June quarter because the gross sales volumes had been hit due to the coronavirus lockdown.
“With continued lockdown of 69 days in Q1 FY21 the corporate witnessed quantity impression of 53% as in comparison with Q1 FY20,” town fuel utility firm mentioned in a press release on Wednesday.
Gas gross sales volumes fell to 64 million commonplace cubic meters (mmscm) within the first quarter of fiscal yr 2020-21 from 137 mmscm in the identical interval a yr in the past.
Adani Gas’ income dropped 57% to Rs207 crore whereas its Ebitda (earnings earlier than curiosity, tax, depreciation and amortisation) fell 41% at Rs86 crore.
The operational efficiency of its enterprise continues to be recovering in a phased method in direction of the pre-COVID degree, the pure fuel service supplier mentioned.
Total Adani Fuels Marketing Pvt Ltd,a three way partnership by Adani Gas and France’s Total will quickly search approval from the federal government to open retail gasoline stations in India.
By 12:33 pm on Thursday, shares of Adani Gas had been buying and selling at Rs154.15 , down 2.78%, on the BSE; and at Rs154.35, 2.62% decrease, on the NSE.
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