Adani Total Gas-GAIL: There may be a rise in the prices of CNG-PNG, know by what percentage reduction in gas supply from GAIL…

Adani Total Gas GAIL: Adani Group company Adani Total Gas has announced a further 13 percent reduction in its gas supply from GAIL. This may lead to a rise in the prices of CNG and PNG. Adani Total Gas said that the cut will have an adverse impact on its profits.

Shares of Adani Total Gas gained 0.75% on Thursday and closed at Rs 684.15 on BSE. The market cap of the company is Rs 75,243.51 crore.

The profitability of Adani Total Gas will be adversely affected.

Adani Total Gas said in an exchange filing, 'Such shortages are prevalent in the entire CGD (city gas distribution) industry. Although the industry is in discussion with key stakeholders, the profitability of Adani Total Gas will be adversely affected.

Also, the company is examining the current situation and will adjust the retail prices for end consumers to mitigate the impact of low allocation. This cut has been made after the previous cut of about 16% in October.

This latest cut follows a previous cut of about 16% in October. Adani Total is engaged in CGD business and supplies natural gas to domestic, commercial, industrial and vehicle users.

A fall in the shares of Adani Total may be seen on Monday. Shares of city gas companies Indraprastha Gas, Mahanagar Gas and Adani Total Gas may see a decline in Monday's trading. All three companies have announced that their domestic gas allocation from GAIL (India) Limited has been reduced by 13-20%.

Adani Total Gas' profit increases by 7.51% to ₹186 crore Adani Total Gas has earned a profit (consolidated net profit) of ₹186 crore in the second quarter of FY 2024-25. There has been an increase of 7.51% on annual basis. The company had made a profit of Rs 173 crore in the same quarter a year ago.

The company's operational revenue in the July-September quarter was Rs 1318 crore. There has been an increase of 12% on annual basis. The company had earned Rs 1179 crore in the second quarter of the financial year 2023-24.