Adani Total Gas posted its earnings for the quarter ended June on Monday afternoon, sending shares higher.

What Happened: The company’s net profit for the April-June quarter came in at ₹171.84 crore, up around 14% from the ₹150 crore profit it posted in the same quarter last year. Revenue from operations for the quarter under review came in at ₹1,239 crore, up around 9% from the ₹1,135 crore posted in the corresponding quarter of the previous year.

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The number of compressed natural gas (CNG) stations has increased to 559, with 12 new stations added. Total PNG home connections have reached 8.58 lakh, with 38,165 new homes connected to PNG.

Industrial and commercial connections now stand at 8,542, with 211 new consumers added. Additionally, around 12,244 inch-kilometres of steel pipeline has been completed. The combined CNG and piped natural gas (PNG) volume has reached 230 million standard cubic meters, reflecting a 17% year-on-year increase.

Standalone revenue from operations went up 9% to ₹1,237 crore, while EBITDA was up 21% at ₹308 crore. Earlier, in the day, another Adani Group company, Adani Wilmar posted its earnings for the quarter ended June.

Price Action: Adani Total Gas’ share price was up 2.40% to trade at ₹909.80 on Monday afternoon.

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