CNG and PNG: Adani Total Gas (India) has announced a 13% supply cut. The company states that this shortage occurs throughout the urban gas distribution sector.
This cut will reduce the company’s profits, so CNG and PNG prices may increase. Customers will see its direct impact in the form of inflation. However, the company claims that despite the cut, supply will continue uninterrupted.
Adani Total shares may take a hit on Monday. Shares of city gas companies Indraprastha Gas, Mahanagar Gas and Adani Total Gas may see a fall in trading on Monday.
The three companies have announced that their domestic gas allocation from GAIL (India) Ltd has been reduced by 13-20%. Adani Total Gas earnings rise 7.51% to ₹186 crore Adani Total Gas has revised its fiscal year 2024-25 It posted earnings (consolidated net profit) of ₹186 crore in the second quarter.
There has been an increase of 7.51% annually. The company made a profit of Rs 173 crore in the same quarter of the previous year.
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