Adani Total Gas announced an almost 18% increase in third-quarter profit on Tuesday, boosted by robust sales of compressed natural gas (CNG).
The company, which distributes piped gas to numerous Indian towns, said its consolidated earnings increased to 1.77 billion rupees (almost $21 million) for the quarter ended December 31, up from 1.50 billion rupees the previous year.
Adani Total Gas has routinely reported greater quarterly profits since March 2023.
The company, which is part of the Adani group conglomerate, reported a 24% increase in CNG sales, driven by the opening of 98 additional stations across the country.
City gas distributors were experiencing gas shortages as a result of higher spot liquefied natural gas (LNG) prices and reduced domestic allocations.
