Adani Total Gas Limited, a leading city gas distribution company in India, announced its financial results for the third quarter of the financial year 2025-26. The company reported a net profit of ₹158.65 crore for the quarter ended December 2025, marking an 11.4% increase compared to the same period last year.
Strong Revenue Growth
The company’s revenue from operations stood at ₹1,639.22 crore in Q3 FY26, up 17% from ₹1,400.88 crore in Q3 FY25. Total income for the quarter reached ₹1,648.23 crore. This growth reflects continued demand for natural gas across domestic, commercial and industrial segments.
Nine-Month Performance
For the nine-month period from April to December 2025, Adani Total Gas reported:
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Revenue of ₹4,713.92 crore
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Net profit of ₹487.38 crore
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Earnings per share (EPS) of ₹4.43
Standalone Performance
On a standalone basis, the company reported a net profit of ₹157.19 crore on revenue of ₹1,631.19 crore for the quarter. The EPS for standalone operations was ₹1.43.
Key Business Updates
Labour Code Impact: The implementation of the new Labour Codes resulted in a one-time expense of ₹7.23 crore for the company during the quarter.
Regulatory Matters: The company continues to engage with the Petroleum and Natural Gas Regulatory Board (PNGRB) regarding geographical authorizations for city gas distribution networks in several areas including Ludhiana, Jalandhar, Noida and Faridabad. No financial impact from these ongoing matters has been recognized in the current results.
Legal Clarification: Adani Total Gas clarified that it is not involved in the US Department of Justice and Securities and Exchange Commission proceedings against a non-executive director, confirming no financial impact on the company.
Joint Ventures Contribution
The company’s joint ventures, including Indian Oil-Adani Gas Private Limited and SmartMeters Technologies Private Limited, contributed ₹2.70 crore to the quarterly profit.
Segment Focus
Adani Total Gas operates exclusively in the natural gas distribution segment, providing:
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Compressed Natural Gas (CNG) for vehicles
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Piped Natural Gas (PNG) for households and industries
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City Gas Distribution (CGD) services across authorized geographical areas
Board Approval and Audit
The financial results were approved by the company’s Board of Directors at a meeting held on January 22, 2026, and have been reviewed by statutory auditors Walker Chandiok & Co LLP.
Looking Ahead
With India’s increasing focus on expanding its natural gas infrastructure and transitioning to cleaner fuels, Adani Total Gas is positioned to benefit from the growing demand for natural gas across the country. The company continues to expand its distribution network while navigating regulatory developments in the sector.
The company’s steady performance reflects the resilience of the natural gas distribution business amid evolving market and regulatory conditions.