Adani Gas Q2 net profit jumps 13% to Rs 136 crore
Adani Gas Ltd on Tuesday reported a record net profit in the September quarter as sales returned back to pre-Covid levels quicker than anticipated, with the economy reinflating on easing of lockdown restrictions.
Net profit in July-September quarter at Rs 136 crore was 13 per cent higher than Rs 120 crore profit a year ago, Adani Gas CEO Suresh P Manglani told reporters during an earnings call.
The board of the company approved raising USD 400 million (about Rs 2,950 crore) in US dollar denominated bonds to fund capital expenditure for the next two years, he said.
The company, which is a joint venture of Adani Group and French energy giant Total, has planned a capex of Rs 7,000-8,000 crore in the next three years, and the debt will help meet a part of this planned capex.
