Adani Gas posts a 76% increase in net profit

Mumbai: Adani Gas, the city gas distribution arm of Adani Group has posted an increase of 76% in its net profit for the quarter ended 31 March, 2019. Net profit came in at ₹75.68 crore against ₹42.82 crore during the corresponding previous quarter.

Revenue increased 24% to ₹494 crore as against ₹395 crore in Q4 FY18. Operating earnings before interest tax depreciation and amortization (EBITDA) for the quarter was up 52% to ₹140 crore against ₹92 crore in the corresponding previous quarter.

“Our CNG volume has grown by 12% to 276 million metric standard cubic metres (mmscm) against 248 mmscm in the comparative period. Our volume of PNG distribution has also increased by 14% to 264 mmscm vs 231 mmscm in the comparative period,” the company said in a press statement.