Adani Total Gas Shares Surge 8% on Q2 Earnings

New Delhi, Oct 24 (PTI) Shares of Adani Total Gas Ltd, the city gas joint venture of Adani Group and French energy giant TotalEnergies, on Thursday surged nearly 8 per cent after the firm reported 6 per cent rise in second quarter net profit.

The stock jumped 7.82 per cent to close at Rs 755.25 apiece on the BSE. During the day, it soared 10.34 per cent to Rs 772.90.

On the NSE, it zoomed 7.83 per cent to Rs 755.30 apiece.

The company's market valuation climbed Rs 6,026.97 crore to Rs 83,063.16 crore.

In terms of volume, 2.61 lakh shares of the firm were traded on the BSE and 31.62 lakh shares exchanged hands on the NSE during the day.

Adani Total Gas Ltd on Thursday reported a 6 per cent rise in the second quarter net profit.

Net profit of Rs 178 crore in July-September - the second quarter of 2024-25 fiscal year - compared with Rs 168 crore a year back, the company said in a statement.

Revenue from operations was up 12 per cent to Rs 1,315 crore on account of higher volume and sales realisation.

CNG volume rose by 19 per cent year-on-year to 162 million standard cubic meters on account of network expansion across multiple. Piped natural gas (PNG) sales was up 7 per cent at 80 million standard cubic meters.