PremiumThe hike by Adani Total Gas Limited comes days after state-run Gujarat Gas raised the price of CNG by nearly ₹3.5 per kg, Thakkar added
Private player Adani Total Gas Limited hiked the price of compressed natural gas (CNG) in Gujarat by Re 1 per kilogram effective from Monday. After the hike, the cost has gone up from ₹79.34 to ₹80.34 per kilogram, said Arvind Thakkar, president of Federation of Gujarat Petroleum Dealers Association.
The hike by Adani Total Gas Limited comes days after state-run Gujarat Gas raised the price of CNG by nearly ₹3.5 per kg, Thakkar added.
Adani Total Gas September quarter profit rose by 1.20% in consolidated net profit to ₹160.02 crore for the quarter ending September 30, 2022 (Q2FY23) period.
Consolidated revenue from operations, however, rose by a whopping 73.32% to ₹1,190.37 crore in Q2FY23 versus ₹686.80 crore in Q2FY22. Sequentially, the revenue climbed by 7.22% compared to ₹1,110.21 crore in Q1FY23.
Further, in H1FY23, on a consolidated basis, the company's revenue stood at ₹2,301 crore up by 90.27% yoy. While PAT stood a ₹298.39 crore versus ₹300.70 crore of H1 in FY22.
On a standalone basis, in Q1FY23, the Adani Group-backed company posted a 25% yoy growth in CNG sales to ₹113 crore.
Adani Total Gas Ltd shares were up by 2.17 per cent at ₹3,629.35 on BSE.