Adani Gas surges 13% as net profit nearly doubles in Q4

Adani Gas said it sold 14 percent more CNG to automobiles and five percent more piped cooking gas to household kitchens in the fourth quarter of 2018-19.

Shares of Adani Gas surged more than 13 percent intraday on May 28 after the company almost doubled its net profit in the March quarter on the back of higher sales.


The company in its exchange release said net profit in the January-March quarter stood at Rs 75.68 crore, 91 percent higher than Rs 39.65 crore in the corresponding period of the previous year.

The Gautam Adani-led firm's turnover increased 24 percent to Rs 494 crore.

Adani Gas said it sold 14 percent more CNG to automobiles and five percent more piped cooking gas to household kitchens in the fourth quarter of 2018-19.

Gautam Adani's Group had in November last year separated city gas business and listed it on stock exchanges.

At 1208 hrs, Adani Gas was quoting Rs 161.95, up 13.33 percent on the BSE.

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