Adani Total Gas reports first profit rise in over a year behind strong CNG volume growth
Adani Total Gas reported an 11.4 percent rise in quarterly net profit as strong CNG sales volumes offset rising procurement costs and government subsidy cuts.
Insights:
Adani Total Gas Limited reported a consolidated net profit of 1.59 billion rupees for the three months ended December 31, reflecting an 11.4 percent increase from the previous year. This performance marks the first quarterly profit increase in five quarters for the distributor. The turnaround was largely driven by a 17 percent growth in sales volumes for compressed Natural Gas on a standalone basis, which now accounts for more than half of the total sales for the company operating in IN 
IN.
IN.Revenue from operations grew 17 percent to reach 16.39 billion rupees during the quarter. This growth occurred even as total expenses rose 18.1 percent to 14.37 billion rupees, pressured by an 18 percent increase in procurement costs for Natural Gas. Adani Total Gas Limitedis a joint venture between the Adani Group and the French energy major TotalEnergies SE , which is headquartered in FR 
FR.
FR.
