Adani Total Gas Falls as Q1 Profit Drops 14%

July 21, 2026July 21, 2026

Adani Total Gas fell to a day’s low of Rs 690.20 on the NSE on Tuesday, after the company reported a drop in Q1 profit.

Consolidated net profit fell 14.2% year on year to Rs 141.72 crore, down from Rs 165.24 crore in the same quarter last year.

Revenue, on the other hand, climbed 27.3% to Rs 1,906.79 crore, up from Rs 1,498.32 crore a year earlier, helped by higher gas sales volumes.

The trouble lay in costs. Natural gas and traded item expenses jumped 40.3% to Rs 1,302.51 crore, growing faster than revenue itself and eating into the company’s margins.

As a result, operating profit fell 7.9% to Rs 270 crore from Rs 293.2 crore a year ago. The operating margin shrank sharply too, down to 14.2% from 19.6% in the year ago period. Profit before tax dropped 15.9% to Rs 186.90 crore.

There was a small bright spot though, the company’s share of profit from its joint ventures more than doubled to Rs 9.57 crore during the quarter. Earnings per share came in at Rs 1.29, down from Rs 1.50 a year earlier.

Shares fell as much as 3% during the day before recovering some ground. The stock has still gained around 18% so far this year despite Tuesday’s fall.

At market close on 21 July, Adani Total Gas shares settled at Rs 701 on the NSE, down 1.67% from the previous close of Rs 712.90.

The stock remains well below its 52-week high of Rs 859.85, hit in May, though still comfortably above its 52-week low of Rs 462.80 touched in March.

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