Adani-Total Gas reports record profit on cost optimisation
Adani Total Gas Ltd on Wednesday reported a record net profit of Rs 145 crore in the December quarter on optimising cost both for input gas and operating expenses. Net profit of Rs 145 crore in October-December was 27 per cent higher than Rs 114 crore a year back, firm’s chief executive Suresh P Manglani said on a media call.
“This increase is mainly because of a significant decrease in operating cost and optimising gas sourcing portfolio that lowered the cost,” he said.
The firm, which is a joint venture of infrastructure conglomerate Adani Group and French energy giant Total, sells gas sourced from domestic fields or imported in form of LNG to automobiles as CNG or as piped natural gas to industries and household kitchens.
