Adani Gas Ltd, reported a 42% drop in Net Profit as sales volume were impacted due to the lockdown. Net Profit of Rs. 46.33 Crore was declared for the quarter ending June 20′. Total Income dropped from 502.05 on June 19′ to 214.94 June 20′ which is a reduction of 57%(YoY). EBITDA stood at INR 86 Cr vs. Q1 FY20 EBITDA of INR 146 Cr
|Q1 FY21||Q4 FY20||Q1 FY20||QoQ%||YoY%|
Gas sales volumes dropped to 64 million standard cubic meters(MMSCM) in the first quarter of fiscal year beginning April 2020, from 137 MMSCM in the same period a year back.
With continued lockdown of 69 days in Q1FY21, Adani Gas witnessed volume impact of 53% as compared to Q1 FY20. There was a progressive rebound in volumes as compared to the pre-COVID situation and exit volume as on 30th June 2020 had already reached at 1.25 MMSCMD as compared to 1.60 MMSCMD for the month of Mar’20. The operational performance of the business continues to be recovering in a phased manner towards Pre COVID level.