Adani Total Gas LimitedQ2 FY27 Results & Financial Update
Adani Total Gas Limited: Q2 FY27 consolidated results and company financials – revenue ₹2,109.65 Cr, PAT ₹173.27 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Adani Total Gas Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Adani Total Gas Limited reported consolidated revenue from operations of INR 2,109.65 crore for Q2 FY27, marking an increase of 10.64% compared to INR 1,906.79 crore in the preceding quarter (Q1 FY27).
Total income for the quarter stood at INR 2,123.66 crore, compared to INR 1,919.77 crore in the previous quarter, reflecting higher overall turnover and other income inflows.
Profit before tax (PBT) expanded to INR 233.34 crore during the quarter under review, up 31.59% from INR 177.33 crore in Q1 FY27, pointing to improved operational spread.
Consolidated net profit after tax (PAT) reached INR 173.27 crore, registering a 22.26% quarter-on-quarter growth over the INR 141.72 crore recorded in the June 2026 quarter.
Basic earnings per share (EPS) for Q2 FY27 rose to INR 1.58, compared to INR 1.29 in the previous quarter.
The PAT margin improved by approximately 78 basis points sequentially, moving from 7.43% in Q1 FY27 to 8.21% in Q2 FY27.
Finance costs moderated to INR 36.46 crore from INR 39.10 crore in the previous quarter, while depreciation and amortization expenses increased to INR 71.74 crore from INR 66.66 crore.
Adani Total Gas Limited posted consolidated operational revenue of INR 2,109.65 crore for the quarter ended September 30, 2026, marking an increase compared to INR 1,906.79 crore in the preceding quarter.
01 · Business model
What does Adani Total Gas do?
Adani Total Gas Limited operates in the city gas distribution sector, supplying piped natural gas to domestic, commercial, and industrial consumers alongside compressed natural gas for vehicular transport.
The consolidated reporting structure integrates core distribution operations with related energy ventures, capturing the full scope of gas sales, infrastructure deployment, and ancillary income.
Revenue generation is driven by volume sales across city gas distribution networks, supported by other operational streams and non-operating inflows.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹2,109.65 Cr | ₹1,906.79 Cr |
| Total income | ₹2,123.66 Cr | ₹1,919.77 Cr |
| Profit before tax | ₹233.34 Cr | ₹177.33 Cr |
| Profit after tax | ₹173.27 Cr | ₹141.72 Cr |
| EPS | ₹1.58 | ₹1.29 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 8.2% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 11.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹14.01 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations reached INR 2,109.65 crore in Q2 FY27, growing 10.64% sequentially from INR 1,906.79 crore in Q1 FY27.
Total income stood at INR 2,123.66 crore, inclusive of other income amounting to INR 14.01 crore.
Revenue from operations increased to INR 2,109.65 crore in Q2 FY27 from INR 1,906.79 crore in Q1 FY27, supported by volume and realization dynamics across segments.
Other income contributed INR 14.01 crore to the total consolidated top-line during the quarter.
Revenue from operations increased to INR 2,109.65 crore in Q2 FY27 from INR 1,906.79 crore in Q1 FY27, representing a sequential growth of 10.64%.
Total income reached INR 2,123.66 crore, bolstered by other income of INR 14.01 crore.
What drove margins
Tax expenses for Q2 FY27 increased to INR 68.49 crore compared to INR 45.18 crore in Q1 FY27, reflecting higher taxable profits.
Finance costs decreased sequentially from INR 39.10 crore in Q1 FY27 to INR 36.46 crore in Q2 FY27.
PAT margin expanded sequentially by 78.08 basis points to 8.21% in Q2 FY27 from 7.43% in Q1 FY27.
Profit after tax margin strengthened to 8.21% in Q2 FY27 from 7.43% in Q1 FY27, reflecting improved operating leverage.
Depreciation and amortization expenses were reported at INR 71.74 crore, while finance costs stood at INR 36.46 crore.
04 · Reported developments
What changed operationally
Consolidated PAT grew by 22.26% quarter-on-quarter to INR 173.27 crore alongside a 31.59% increase in PBT.
Net profit expanded by over 22% sequentially to INR 173.27 crore, aided by top-line growth and disciplined cost management.
PBT grew by 31.59% sequentially to INR 233.34 crore, and PAT increased by 22.26% to INR 173.27 crore.
05 · Items worth noticing
The line items that can distort a quick read
The consolidated financial results include provisions of INR 9.05 crore for the current quarter.
The company recognized provisions amounting to INR 9.05 crore during the quarter.
The company recorded provisions of INR 9.05 crore during the quarter.
06 · Beyond the numbers
What changed beyond the numbers
Reported update
Provisions Recorded
The company reported provisions of INR 9.05 crore for the quarter ended September 30, 2026.
Reported update
Structured Filing Submission
The financial results for Q2 FY27 were submitted through the official exchange structured XBRL filing.
07 · Previous-quarter changes
What changed since the previous quarter
Revenue increased from INR 1,906.79 crore in Q1 FY27 to INR 2,109.65 crore in Q2 FY27.
Operating revenue increased from INR 1,906.79 crore in Q1 FY27 to INR 2,109.65 crore in Q2 FY27, while PAT improved from INR 141.72 crore to INR 173.27 crore.
Compared to Q1 FY27, revenue expanded by 10.64% and PAT grew by 22.26% alongside an improvement in net profit margin.
08 · Key Q&A
The quarter, answered directly
What does Adani Total Gas do?
Adani Total Gas Limited operates in the city gas distribution sector, supplying piped natural gas to domestic, commercial, and industrial consumers alongside compressed natural gas for vehicular transport.
What is the clearest takeaway from Q2 FY27?
Adani Total Gas Limited reported consolidated revenue from operations of INR 2,109.65 crore for Q2 FY27, marking an increase of 10.64% compared to INR 1,906.79 crore in the preceding quarter (Q1 FY27).
What drove revenue or demand?
Revenue from operations reached INR 2,109.65 crore in Q2 FY27, growing 10.64% sequentially from INR 1,906.79 crore in Q1 FY27.
What mattered most for margins or profitability?
Tax expenses for Q2 FY27 increased to INR 68.49 crore compared to INR 45.18 crore in Q1 FY27, reflecting higher taxable profits.
What changed operationally beyond the headline numbers?
The company reported provisions of INR 9.05 crore for the quarter ended September 30, 2026.
What should the next disclosure help confirm?
Monitor upcoming quarterly financial filings for continued revenue trajectory, margin stability, and capital expenditure progression.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subsequent Quarter Financial Disclosures: Monitor upcoming quarterly financial filings for continued revenue trajectory, margin stability, and capital expenditure progression.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.