Adani Total Gas’ first-quarter profit drops 18% on high LNG costs amid West Asia crisis
Adani Total Gas reported an 18% year-on-year decline in net profit, falling to ₹133 crore for the June-end quarter, primarily due to a 39% increase in liquefied natural gas (LNG) procurement costs. Despite the profit drop, overall sales volume rose by 13%, with compressed natural gas (CNG) sales increasing by 18% and piped natural gas (PNG) by 4%. The surge in LNG costs is attributed to the ongoing crisis in West Asia, impacting the energy sector significantly.