Adani Total Gas to share Q3 results, host earnings call with investors today

Adani Total Gas Ltd would be announcing its December quarter results on Tuesday, January 30. The company had on January 20 informed stock exchanges that is board of directors would meet today to consider and approve the unaudited financial results for the quarter and nine months ended December, 31, 2023. Besides, the Adani group firm said it would hold post results conference call with investors today to discuss the financial performance of the company.

FPIs were seen trimming stake in this Adani group firm in the third quarter. Data showed the institutional category cut stake in Adani Total Gas by 88 basis points to 13.06 per cent for the quarter from 13.94 per cent in the September quarter. This stock surged 61 per cent in the December quarter. Shares of Adani Total Gas are up 3.46 per cent year-to-date and 56 per cent in the past six months. The scrip is still down 56 per cent for the one-year period.

A host of Adani group firms have announced their quarterly results so far. Adani Energy Solutions Ltd on Monday reported a 31.55 per cent year-on-year (YoY) fall in net profit at Rs 324.90 crore for the December quarter compared with Rs 474.72 crore in the corresponding quarter last year. Total income for this Gautam Adani-led firm came in at Rs 4,824.42 crore, up 19 per cent, thanks to newly commissioned transmission lines and rise in energy consumption in the Mumbai distribution business.

Adani Power Ltd, on the other hand, clocked a multi-fold surge in consolidated net profit at Rs 2,738 crore for the third quarter on recovery in industrial demand and a lower base. The Adani group firm had logged a consolidated profit of Rs 9 crore in the corresponding quarter last year.

Adani Green Energy Ltd on Monday reported consolidated net profit of Rs 256 crore in the December 2023 quarter, up 148.5 per cent on a year-on-year (YoY) basis. The Adani Group company had clocked a bottomline of Rs 103 crore in the year ago period.