Adani-Total Gas Ltd Sees Profit Dip Amid Rising Gas Costs

Adani-Total Gas Ltd reported a 10% drop in Q4 profits due to increased gas costs, despite a 15% rise in revenue. The company adapts by replacing cheaper domestic gas with pricier alternatives, and focuses on volume growth and expanding CNG and piped natural gas networks.

Adani-Total Gas Ltd reported a 10% fall in fourth-quarter net profit despite a 15% rise in revenue. This decrease stems from heightened gas costs as domestic production dwindled.

According to the company, net income during January-March stood at Rs 149 crore compared to Rs 165 crore the previous year.

Revenue jumped to Rs 1,448 crore, driven by increased sales in its CNG segment, despite gas procurement costs climbing 27% as alternatives to APM gas were sought.

(With inputs from agencies.)