Adani Total Gas Ltd Reports 20% Rise in June Quarter Net Profit
Adani Total Gas Ltd, a joint venture between Adani Group and TotalEnergies, posted a 20% increase in net profit for the June quarter, driven by a rise in CNG and piped gas sales. The company reported a net profit of Rs 177 crore and a 9% increase in revenue, reaching Rs 1,237 crore.
![Adani Total Gas Ltd Reports 20% Rise in June Quarter Net Profit](https://devdiscourse.blob.core.windows.net/aiimagegallery/29_07_2024_09_54_38_6939686.png)
Adani Total Gas Ltd, the joint venture between Adani Group and TotalEnergies of France, announced a 20% rise in net profit for the June quarter, driven by increased sales of CNG and piped cooking gas.
The firm reported a net profit of Rs 177 crore for April-June, up from Rs 148 crore a year earlier, and a 9% increase in revenue from operations, reaching Rs 1,237 crore.
CNG sales grew by 20% to 153 million standard cubic meters, while sales of piped natural gas to households rose by 11% to 77 million standard cubic meters during the same period. Additionally, the company expanded its CNG network and added new EV charging stations and solar capacity.
(With inputs from agencies.)
ALSO READ
SBI Economists Predict Dip in India's GDP Growth for Q1 FY25
Vedanta Ltd to Mull Third Interim Dividend Amid Strong Financial Performance
Indian Telecom Sector to Boost Workforce: 62% Employers Eye Expansion in H1 FY25
Union Bank Report Predicts Moderate GDP Growth for Q1 FY25
Square Yards Sees 66% Profit Surge in June Quarter FY25