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

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.

At 09:34 AM, the stock was trading over 2 per cent lower at Rs 155.25 on the BSE against Wednesday’s close of Rs 158.55. In comparison, the benchmark S&P BSE Sensex was trading 222 points or 0.59 per cent higher at 37,886. The stock had hit a high of Rs 194.55 on February 20, 2020, while its 52-week low level stands at Rs 76.70, hit on March 25.