Jul 29, 2024 05:20 PM IST
Adani Total Gas sees its net profit rising 14.39%, revenue growing 9.13%, and expenses up by 7.49%
Adani Total Gas Ltd, the natural gas arm of the Adani group has posted its first quarter results for the financial year 2024-25 on Monday, July 29, 2024.
How much did the revenue and net profit of Adani Total Gas increase?
The company posted a 14.39% or ₹21.62 crore increase in consolidated net profit to ₹171.84 crore, compared to ₹150.22 crore in the same quarter of the previous year.
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The revenue from operations grew by 9.13% or ₹103.71 crore to ₹1,239.06 crore, compared to ₹1,135.35 crore in Q1 2023-24.
The company’s inventories reduced in this quarter. Inventories reduced by ₹68 lakh, compared to an increase of ₹72 lakh in the same quarter of the previous year.
How much were the expenses of Adani Total Gas?
Adani Total Gas saw an increase of 7.49% or ₹70.71 crore in total expenses, adding up to ₹1,014.76 crore, compared to ₹944.05 crore in the first quarter of 2023-24.
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The Petroleum and Natural Gas Regulatory Board (PNGRB) has transferred three Geographical Areas (GA) – Ludhiana, Jalandhar and Kutch (East) to the company, with the transaction yet to be consummated.
The areas have a potential of 6.5 MMSCMD (million metric standard cubic meter per day) over a period of 10 years, and Adani Total Gas had purchased it from a consortium led by Jay Madhok Energy.
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How did Adani Total Gas shares perform?
Adani Total Gas shares closed at ₹892.75, a gain of 0.51% or 4.55 points over the previous close.