Adani Gas Ltd

For the quarter under review, the company reported a net profit of Rs 142.4 crore, despite an 11.9 per cent rise in net sales to Rs 1,294.5 crore

Adani Total Gas share price surged after the company announced that global lenders have provided funding worth $275 million to the company.

The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on India's infrastructure spending

Six group firms say they have received notices; legal experts say allegations don't seem to be very serious

Adani Total Gas Ltd, the city gas retailing joint venture of Adani group and TotalEnergies of France, on Tuesday reported a 59 per cent rise in March quarter net profit on the back of a surge in CNG sales volumes. The company posted a net profit of Rs 165 crore in the January-March period as against Rs 104 crore in the same period a year back, the company said in a statement. The firm, which retails CNG to automobiles and pipes natural gas to household kitchen for cooking purpose, saw a revenue increase of 5 per cent to Rs 1,257 crore while EBITDA surged 49 per cent to Rs 305 crore the quarter. CNG sales rose 20 per cent to 149 million standard cubic metres and piped natural gas sales were up 15 per cent to 83 mmscm. For the full fiscal year, the company reported a net profit of Rs 653 crore on a revenue of Rs 4,813 crore. This compared with Rs 530 crore net profit on a revenue of Rs 4,683 crore in 2022-23. ATGL said it added 91 new CNG stations to take the strength to 547 across

According to a Bloomberg report, US prosecutors have widened their probe against India's Adani Group to focus on whether the company engaged in bribery

The company is discussing the planned transaction with arrangers and bankers

The joint venture aims to double gas sales in four years and strengthen infrastructure to more than 600 retail outlets during the period to meet India's rising gas demand, Jha added

While Adani stocks have risen more than $90 billion from last year's low, they remain about $60 billion short of their pre-Hindenburg peak

The project is expected to be commissioned by FY24-25, and the percentage of green hydrogen will be gradually increased in the blend to up to 8 per cent or more

The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained gun at billionaire Gautam Adani's group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures. The

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The company has pushed for an aggressive expansion of CNG stations at a time when piped natural gas volumes have dropped

The Group said it has participated in the 5G spectrum auction to provide private network solutions along with enhanced cyber security in the airport, ports & logistics and other businesses

Shashi Shanker, former chairman and managing director of Oil and Natural Gas Corporation, has been appointed as an independent director on the board of Adani Total Gas Ltd (ATGL), the company said in a regulatory filing. Shanker, who superannuated as the head of India's largest oil and gas producer on March 31, 2021, was appointed to the board of ATGL on May 4. "This is to inform that, on the recommendation of Nomination & Remuneration Committee, the Board of Directors of the company have appointed Shashi Shanker, as an Additional Director (Non-Executive, Independent) of the company," the filing said. He was chairman and managing director of state-owned ONGC from October 1, 2017 to March 31, 2021. ATGL is a joint venture of billionaire Gautam Adani-led infrastructure-to-energy conglomerate and Total of France for city gas business entailing the sale of CNG to automobiles and piped natural gas to households and industries. The company board is headed by Adani and includes his ...

The company's total income fell to Rs 6,327.57 crore in the quarter from Rs 8,077.89 crore in the year-ago period

Originally, Adani Gas was part of Adani Enterprises Ltd (AEL) and was demerged into a separate unit before half of Adani family's 74.8 per cent stake being sold to Total

Firm has already brought in a nominee of the French oil major on its board

The two firms in 2013 had incorporated a 50:50 joint venture company, IndianOil-Adani Gas Pvt Ltd, for implementation of city gas distribution projects in various cities in the country

On May 18, 2011, the Rajasthan government withdrew the NOC given to Adani Gas