NEW DELHI: Adani Total Gas Ltd, the city gas joint venture of Adani Group and TotalEnergies of France, on Tuesday reported a 20% jump in net profit at Rs 168 crore on CNG sales boost for the second quarter of current financial year.
The company’s net profit was at Rs 139 crore in the same period a year back, the company said in a statement. CNG sales increased 20% to 113 million standard cubic meters while piped gas supplies dropped 3% to 75 mmscm. Revenue was almost flat at `1,178 crore.
“Revenue from operations has remained flat as there was reduction in gas cost due to revised pricing formula approved by Government of India with effect from April 8, 2023, the benefit of which ATGL passed on to its consumers, resulting in decrease in sales price,” the company said. (Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 17% due to higher volume and balanced price strategy.
GAIL net profit jumps 56% on earnings from gas transmission
NEW DELHI: State-owned gas utility GAIL (India) Ltd on Tuesday reported a 56% rise in its second quarter net profit as bumper earnings from gas transmission and marketing business offset petrochem losses. Standalone net profit of Rs 2,404.89 crore in July-September, or Rs 3.66 per share, was 54.4% higher than Rs 1,537.07 crore, or Rs 2.34 a share, profit in the same period last year, according to the company’s stock exchange filing.
GAIL saw pre-tax earnings from its mainstay gas transportation business soar 82 per cent to Rs 1,290.65 crore in the second quarter of the current fiscal. Also, its pre-tax earnings from the marketing of natural gas jumped almost 400% to Rs 1,784.58 crore. Losses in the petrochemical business narrowed to Rs 160.61 crore from Rs 346.22 crore in July-September 2022. Its revenue from operations dropped to Rs 31,882.62 crore in July-September from Rs 38,490.89 crore on lower gas prices. ENS
Tata Consumer Products net profit falls to Rs 363.92 crore
NEW DELHI: Tata Consumer Products Ltd (TCPL) on Tuesday reported a 6.55% fall in its consolidated net profit to Rs 363.92 crore for the second quarter of current fiscal on the back of a strong growth in its domestic business. The company had posted a net profit of Rs 389.43 crore in the July-September quarter a year ago, according to a regulatory filing from Tata Consumer Products Ltd, which was earlier known as Tata Global Beverages Ltd.
The company’s revenue from operations rose 11.02% to Rs 3,733.78 crore during the quarter under review as against Rs 3,363.05 crore in the year-ago period. Total expenses of the Tata Group FMCG arm stood at Rs 3,318.18 crore, up 9.8% in the September quarter. TCPL’s total income in the September quarter increased 12.71% to Rs 3,823.61 crore. Shares of Tata Consumer Products on Tuesday settled at Rs 900.60 apiece on BSE, up 0.81% from the previous close. ENS
L&T net profit rises 45% to Rs 3,223 cr on revenue from ops
NEW DELHI: Larsen & Toubro (L&T) on Tuesday reported a 44.5% rise in consolidated net profit to Rs 3,222.63 crore for the quarter ended September 30, 2023, on the back of higher revenue from operations. The company had reported a net profit of Rs 2,228.97 crore in the year-ago period, L&T said in a regulatory filing. In a conference call, L&T chief financial officer R Shankar Raman said that as far as the profit growth is concerned it basically arises out of 26 per cent growth in revenue.
Income during July-September quarter of the financial year 2023-24 increased to Rs 52,157.02 crore from Rs 43,501.14 crore in the year-ago period. There has been a strong all-round performance of the company, the CFO said, adding that the business environment did not get easier. Further, he said that the divestment of L&T IDPL is progressing well and is scheduled to be completed in the current year. ENS