Adani Total Gas reports marginal rise in Q2 profit to Rs 1.60 billion
BENGALURU (Reuters) -India’s Adani Total Gas reported a marginal rise in second-quarter profit on Thursday, as the city gas distributor raised prices, but higher input costs dented its margins.
The company’s consolidated profit rose 1.3% to 1.60 billion Indian rupees ($19.30 million) in the July-September quarter, from 1.58 billion rupees a year ago.
“The city gas distribution industry continues to face a challenging scenario with significantly higher input gas prices, mainly due to geopolitical factors as well as supply shortages across the globe,” Chief Executive Suresh Manglani said in a statement.
