New Delhi, Nov 12 () Adani Gas Ltd on Tuesday reported more than doubling of its second quarter net profit on lower tax rate.
Consolidated net profit in July-September was at Rs 120.06 crore, or Rs 1.09 per share, compared with Rs 50.66 crore, or Rs 0.46 per share, profit after tax (PAT) in the same period a year back, the company said in a statement.
Revenue from operation soared 12 per cent to Rs 502.82 crore.
The “increase in PAT reflects the reduction in tax expenses on account of changes made vide Tax Laws Amendment Ordinance 2019 as applicable to the company,” it said.
The government had in September lowered base tax rate for corporates to 25 per cent from 30 per cent earlier.
