Adani Total Gas reported a 7.5% increase in consolidated profit for Q3 2024, fueled by rising CNG sales and India's growing demand for natural gas.
India n firm Adani Total Gas reported on Thursday a 7.5% increase in its consolidated profit for the quarter ended September 30, as sales of compressed natural gas CNG for vehicles continue to grow. Adani Total Gas , part of the Adani conglomerate in India , thus reported higher profits for the seventh consecutive quarter amid a wider government-led push for cleaner vehicle fuel use.
Last month, Adani Total Gas entered into a maiden financing agreement for $375 million with international lenders to help it accelerate its City Gas Distribution CGD infrastructure program. Adani Total Gas has been promoting LNG for transport use and it could benefit immensely from the expected robust growth in India’s gas demand. Apart from fuel for transportation, India plans to ramp up LNG imports and the use of natural gas as a fuel cleaner than coal and needed in many industrial processes.
India CNG Profit Natural Gas LNG Clean Fuel Demand Expansion Investment
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