Profit Rises On Volume Growth

Adani Total Gas Ltd.’s second-quarter profit rose, aided by growth in volume.

Consolidated net profit of the city gas distribution company rose 15.7% sequentially to Rs 169 crore in the quarter ended September, according to its exchange filing. There was a 9% growth in volume to Rs 191 crore.

Adani Total Gas Q2 Results FY23 (Consolidated, QoQ)

• Revenue up 7% at Rs 1,190.3 crore

• Ebitda up 3.5% at Rs 226.2 crore

• Profit up 15.7% at Rs 169 crore

The company has completed the incorporation of two new special purpose vehicles — Adani TotalEnergies E-mobility Ltd. and Adani TotalEnergies Biomass Ltd. — as 100% wholly-owned subsidiaries of Adani Total Gas.

Shares of Adani Total Gas rose 0.28% to Rs 3,646.30 apiece as of 2:41 pm, compared with a 0.28% decline in the benchmark Nifty 50.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.