Adani-Total Gas Q3 net profit up 10% on higher CNG volumes
New Delhi: Adani Total Gas Ltd, the city gas joint venture of Adani Group and France’s TotalEnergies, on Thursday reported a 10 per cent rise in its third quarter net profit as higher CNG sales helped offset a rise in prices of input raw material.
Net profit is Rs 157 crore in October-December 2025 - the third quarter of the current 2025-26 fiscal year - compared with Rs 143 crore earnings in the same period a year back, according to a company statement.
Revenue from operations rose by 17 per cent to Rs 1,631 crore.
With allocation of subsidised natural gas continuing to decline - down to 41 per cent of total requirement in Q3 from 42 per cent in the previous quarter - the company had to rely on sourcing higher-priced gas. The cost of natural gas - which is converted into CNG for sale to automobiles and piped to households for cooking and industries as feedstock - was up 18 per cent, the firm said.
“ATGL took a calibrated approach in passing the higher gas cost to ensure volume growth does not get impacted,” the statement said.
The company sold 17 per cent more CNG in Q3 and 3 per cent more piped natural gas (PNG). Overall sales volumes were up 12 per cent at 289 million standard cubic meters.
“CNG Volume increased by 17 per cent year-on-year on account of CNG network expansion across multiple Geographical Areas (GAs),” the company said, adding over 10.5 lakh homes are now connected with its piped natural gas.
Profit in the first nine months of the current fiscal year fell 4 per cent to Rs 481 crore.
“Despite continued lower availability of APM gas and higher Henry Hub-linked LNG prices, our diversified sourcing strategy enabled us to manage the gas basket efficiently and ensure uninterrupted supplies of piped natural gas (PNG) and CNG to all our customers,” said Suresh P Manglani, CEO and ED, ATGL.
Besides expanding CNG and PNG network, the company’s installed charge points now nearing 5000 mark with 51 MW capacity.
“Supportive regulatory changes, including effective reduction in tax on natural gas transported outside Gujarat and the new and simplified zonal transmission tariff will help CGDs entities to strengthen cost structures and create a more affordable pricing environment. As APM allocation for CNG continues to evolve, our balanced portfolio positions us to maintain affordability while managing cost pressures responsibly,” he said.
Meanwhile, Adani Energy Solutions Ltd (AESL) on Thursday posted an over 8 per cent decline in consolidated net profit to Rs 574.06 crore for December quarter, mainly due to higher tax expenses. AESL had logged a net profit of Rs 625.30 crore in the same period a year ago, the company said in an exchange filing. According to the filing, the company made a provision of total tax expenses of Rs 226.17 crore, whereas it had got tax credit of Rs 66.07 crore in the year- ago quarter. Total income however rose to Rs 6,944.44 crore from Rs 6,000.39 crore in the third quarter of 2024-25 fiscal, aided by increased revenues from key businesses. From transmission, the company earned a revenue of Rs 2,426.36 crore as against Rs 2,034.76 crore a year ago. Revenues from distribution business increased to Rs 3,103.62 crore from Rs 2,972.42 crore.
“Q3FY26 adjusted PAT of Rs 574 crore increased by 30.4 per cent YoY translating from strong profitability at EBITDA and PBT level. The comparable PAT has been adjusted for a one-time positive impact of deferred tax of Rs 185 crore in Q3FY25 last year for a like-for-like comparison,” the company said in a statement. CEO Kandarp Patel said the company has commissioned four transmission projects during the current financial year.
“The company reached an impressive mark of approximately 92.5 lakh meter, the highest in the country by any player at a benchmark daily installation rate. We expect a substantial increase in our asset capitalisation program across all core segments and expect strong momentum in bidding activity in the short to medium term,” he added.
