News Oil & Gas

Adani Total Gas Ltd net profit rises to ₹173 crore on higher volumes

Adani Group and French energy major Total Energies’ city gas distribution company, Adani Total Gas Ltd (ATGL) reported a 7.5% rise in its consolidated net profit for the July-September quarter on higher volumes. Net profit came in at ₹ 173 crore against ₹160 crore in the July-September quarter of fiscal year 2023.

Total income fell by nearly 1% year-on-year to ₹1188 crore during the quarter against ₹1200 crore in the same period last year.

“Revenue from operations has remained flat as there was a reduction in gas cost due to a revised pricing formula approved by the Government of India w.e.f. 8th April 2023 which ATGL passed on the benefit to its consumers, resulting in a decrease in sales price,” the company said in a press statement.

Total expenses in the quarter were ₹964 crore, compared with ₹1,013 crore a year ago.

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