Adani Total Gas reported a 19% drop in its consolidated net profit for the third quarter of FY25, standing at Rs 142.38 crore, compared to Rs 176.64 crore in the same period last year. On a sequential basis, the profit declined by 23.28% from Rs 185.60 crore in the September quarter.
Shares of Adani Total Gas opened flat on January 28, with the stock rising to an intraday high at Rs 627.15 per share on the NSE, up 1.25% against the previous close. The stock pared gains to slip into negative territory. At 10:10 am, the shares were trading at Rs 612.65 apiece, down 1.09%.
Operations revenues jumped 12.61 per cent to Rs 1,400.88 crore in the October-December ’05, over Rs 1,244 crore for the year-ago period even as rising cost of feedstock natural gas was starting to wreak havoc on the bottomline of the business.
Adani Total Gas felt the pinch as the government cut cheaper gas supplies to city gas distributors temporarily in October and November because of lower production. The company made up for the shortfall with more expensive natural gas purchases, pushing up its overall procurement cost by 20% y-o-y, to maintain uninterrupted supply of compressed natural gas for consumers.
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Source: Moneycontrol
News Desk
