Adani Total Gas Q3 Result: Adani Total Gas, a group company of Gautam Adani, who is among the country’s largest industrialists, has recorded a 20% decline in profits during the third quarter of FY 2024-25. After this decline, the company’s profit has come down to Rs 142.38 crore. The impact of a decrease in profits of the company was also seen in the stock market on Monday, where the company’s shares closed down with a decline. Increased gas costs and supply cuts on government prices have been the main reason for the decline in the company’s profits.
Cost increased, profits decreased
The profit of Adani Total Gas has fallen from 19.40% to Rs 142.38 crore from year to year. This profit was Rs 176.64 crore in the same quarter of the last financial year. The company said in its financial report that this decline in profits has been due to increasing depression cost and limited government supply.
The company’s operating income i.e. operating income increased by 12.61% to Rs 1,400.88 crore, which was Rs 1,244 crore in the same period last year. However, a 20% increase in natural gas prices put pressure on profits.
Also Read: Adani Wilmar Q3 Result: Adani Wilmer’s profit increased to 411 crores, 31% growth in income
Reduction in supply of APM gas
Adani Total Gas said that the supply of APM gas for the CNG segment was only 47% in this quarter, while the rest of the need was met with new sources, existing contracts and spot shopping. APM gas means natural gas sold under Administrative Price Mechanism (APM) in the country. The government decides the price of APM gas. The company says that it did not completely transfer the increasing cost of gas to the last consumer by adopting a balanced attitude, so that volume growth is not affected. The company’s CEO and ED Suresh P Mangalani said, “We have maintained strong operational performance with volume growth. We have recorded annual growth at the rate of 15% and continued to supply regular to our consumers despite low government supply of natural gas.”
Also Read: Big Return ETF: Power to invest in government companies! This fund of Nippon India made 1 lakh quarter to 4 lakhs, 40% annual return on SIP
Expansion of network
Adani Total Gas has made significant progress in the expansion of its CNG and PNG network. The company has added 28 new CNG stations to 605 in this quarter to 605. PNG home connections have reached 9.22 lakhs with 28,677 new customers. The number of industrial and commercial customers has also increased by 167 to 8,913. The company’s total steel pipeline network has also increased by about 13,082 inches kilometers. Suresh P Mangalani said, “We are expanding PNG and CNG infrastructure keeping in mind the needs of consumers.”
Also Read: UPS Calculator: How many money will be received after 30 years of job, what to tell unified pension scheme rules and calculations
Pan india network
Adani Total Gas has strengthened the network at PAN India level with its joint venture IOAGPL. It has a total of 999 CNG stations, which added 41 new stations in this quarter. PNG home connections have crossed the 10 lakh mark. The number of industrial and commercial customers has also increased to 9,949.
Also Read: Best Return Mutual Funds: Top 5 Multi Asset Allocation Fund, that is, the strength of strength between the upheaval, yet the return is not less!
Share closed with a decline
Adani Total Gas released the results and hoped that the supply of government gas has improved since January, which will have a positive impact on the next quarter results. However, increased costs during this quarter and court cases in the US have challenged the company’s position. On Monday, the impact of the decline in profits of Adani Total Gas was also seen on the company’s stock, which closed at Rs 619.50 with a decline of Rs 22 or 3.43%.
