Adani Total Gas Ltd Sees Stock Surge Amid Profit rise

Shares of Adani Total Gas Ltd rose nearly 8% following a 6% increase in second quarter net profit. The company's market capitalization increased by Rs 6,026.97 crore, driven by higher revenue and CNG volume. Revenue from operations rose by 12%, fueled by expanded network and increased sales.

Adani Total Gas Ltd, a joint venture between Adani Group and TotalEnergies, saw an impressive spike in its stock value, surging nearly 8% on Thursday. This rise followed the company's announcement of a 6% increase in net profit for the second quarter.

The firm reported a net profit of Rs 178 crore for the July-September period, up from Rs 168 crore a year ago. Revenue from operations grew by 12% to Rs 1,315 crore, primarily due to increased volume and enhanced sales realisation.

Notably, CNG volume saw a 19% year-on-year jump to 162 million standard cubic meters, attributed to network expansion. The market valuation of the company soared by Rs 6,026.97 crore to Rs 83,063.16 crore, reflecting investor confidence.

(With inputs from agencies.)