Adani Group on Friday announced that the company has a strategic collaboration with Italy-based Snam, Europe’s leading gas Infrastructure Company. The collaboration would envisage exploration of the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility.

Adani Group and Snam intend to explore opportunities in the energy space, where each Group brings complementary capabilities to the table. Adani Group and Snam, both have a strong interest in exploring the promise of green hydrogen. Adani Gas wants to take benefit from Snam’s broad technical expertise.

The company posted a net profit of Rs 136 crore in the second quarter FY21, which rose by 13 percent year on year, as compared to the corresponding period the previous year. The company reported revenue from operations of Rs 441 crore, for the second quarter FY21 a decrease of 12 percent, as against the revenue from operations of Rs 503 crore for the previous year.

Adani Gas Ltd, is an India-based company which is into the business of developed of natural gas. The Company is a wholly-owned subsidiary of Adani Enterprises Ltd. During the noon session of trade today, the share of Adani Gas was quoting at Rs 241.30 on the National Stock Exchange, up by Rs. 1.45 from the previous closing.

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