Adani Total Gas shares surged 8% after the results came out.

What Happened: Adani Total Gas reported a 7.48% year-on-year growth in net profit to ₹185.6 crore. The company’s revenue jumped 11.84% from the previous year to ₹1,318.37 crore.

In the September quarter of the previous year, the company’s revenue and net profit stood at ₹1,178.77 crore and ₹172.68 crore, respectively.

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The company’s total sales volume was up 15% at 242 million standard cubic meters. Its compressed natural gas (CNG) sales were up 19% to 162 million standard cubic meters and piped natural gas (PNG) Sales were up 7% to 80 million standard cubic meters.

The company increased its CNG stations to 577, adding 18 new stations. The PNG home connections reached 8.93 lakh in the quarter.

In September, the company secured $375 million (₹3,130 crore) for financing its City Gas Distribution business. BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation participated in the funding round.

Price Action: Shares of Adani Total Gas surged 8.21% to ₹757.95  on Thursday.

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