Why was Adani Gas stock down in trading on Thursday?
Answer
Answer
On 06 August, Adani Gas fell by 4% after it reported a 49% fall in its PBT at Rs.62.58 crore in the Jun-20 quarter. Even the net profits fell by 42% at Rs.46.33 crore. On the top line, the company witnessed a huge volume impact of 53% on a YOY basis. For the Jun-20 quarter, the gas sales volumes dropped to 64 MMSCM from 137 MMSCM in the year ago period.