 "Adani")
Adani Total Gas Ltd, the city gas joint venture between Adani Group and TotalEnergies of France, on Wednesday reported a three-fold jump in its June 2021 quarter net profit to Rs 138 crore, as sales volumes soared.
The April-June 2021 net profit was 199 per cent higher as compared with Rs 46 crore in the same period last year, the company said in a statement.
Sales volumes doubled to 140 million metric standard cubic meters (mmscm).
The firm sold 68 mmscm of CNG in the quarter as compared to 24 mmscm in the year-ago quarter, when mobility and economic activity got impacted due to a nationwide coronavirus lockdown.
The sale of piped natural gas rose 80 per cent to 72 mmscm.
Revenue from operations was up 153 per cent Rs 522 crore.
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Adani Total Gas CEO Suresh P Manglani said that despite the severe onslaught of the COVID-19 pandemic across India, the firm has delivered an excellent performance for Q1FY22 on all fronts by its volume growth, infrastructure growth, and financial results.
"Our long-term strategy is aligned with global best practices in the realm of sustainability while providing unhindered service to our consumers and creating value for all our stakeholders," he said.
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