Adani Total Gas’ first-quarter profit drops 18% on high LNG costs amid West Asia crisis

Adani Total Gas’ (ATGL) net profit fell 18% year-on-year (YoY) to ₹133 crore in the June-end quarter as costs of procuring liquefied natural gas (LNG) elevated due to the conflict in West Asia.

Although the cost of procuring natural gas increased 39% YoY to ₹1,454 crore, revenues of the privately-owned city gas distributor, a joint venture of Adani Group and TotalEnergies of France, rose 27% YoY to ₹1,910 crore.

“The first quarter of FY 2027 witnessed the impact of the West Asia crisis, with elevated crude prices driving higher Brent-linked gas costs across New Well Gas, RLNG (Regasified Liquefied Natural Gas), and spot LNG,” the company said.

Overall sales volume increased 13% YoY with compressed natural gas (CNG) sales expanding 18% and pipelined natural gas (PNG) by 4%.

ATGL CEO Sanjay Pandita said the operating environment remained dynamic, with elevated gas prices, higher Brent crude prices, compounded by currency volatility, and geopolitical developments negatively impacting global energy supplies.