Adani Total Gas Ltd Achieves 6% Net Profit Growth Amidst Rising Gas Prices

Adani Total Gas Ltd, a joint venture between Adani Group and TotalEnergies, reported a 6% rise in net profit for the second quarter, driven by increased CNG and piped cooking gas volumes. The company faced higher gas prices but achieved revenue growth and expanded its network of consumers.

Adani Total Gas Ltd, a joint initiative of Adani Group and TotalEnergies, has announced a 6% increase in net profit for the July-September quarter of the fiscal year 2024-2025. This development comes as the company grapples with rising gas prices, according to their statement.

The company's net profit reached Rs 178 crore, up from Rs 168 crore last year, while revenue from operations saw a 12% increase to Rs 1,315 crore. CNG volume grew by 19%, driven by network expansion, and piped natural gas sales increased by 7%.

Suresh P Manglani, CEO of ATGL, highlighted the company's alignment with India's energy transition goals and the expansion of its consumer base. The company is monitoring the impact of reduced APM gas allocation and has secured significant financing for infrastructure development, including expanding its EV charging network.

(With inputs from agencies.)