Adani Gas Q3 PBT doubles to Rs 143 cr, firm to close Total deal by March

Adani Gas expects to close its deal with French oil major Total by the end of the current financial year, company officials said on Wednesday. The firm posted a two-fold rise in profit before tax (PBT), at Rs 143.62 crore.

On the Total deal, Adani Gas management said in a media call, “The primary part of the deal is closed and one of the nominees of Total is a member on the Adani Gas board. The secondary part of the deal is now going on, and should hopefully be over in the next couple of weeks.” The official added the company hopes to close the deal by the end of the current financial year. Adani Gas said in a January 14 statement that the Board of Directors has appointed Alexis Thelemaque as an additional director.

Last October, Total signed an agreement to acquire 37.4 per cent stake in Gautam Adani-led Adani Gas for about Rs 5,700 crore.