Gas transmission segment volumes were down 14.4% YoY at 90.2 mmscmd (our estimate: 97.5 mmscmd) as offtake was lower due to impact of lockdown. Going ahead, we estimate transmission volumes at 109 mmscmd, 127.5 mmscmd for FY21E, FY22E, respectively, due to additional domestic gas from newer fields. The gas transmission EBIT at | 716.7 crore, was down 16.6% YoY but above our estimates due to lower costs. Gas trading volumes declined 15.9% YoY to 81.2 mmscmd. Gas trading reported loss of | 545.5 crore (estimated profit: | 214.9 crore) as the company had to...