Adani Total Gas Q2 Results: Net Profit Jumps 22% To Rs 173 Crore, Margin Expands

Adani Total Gas reported Rs 173 Crore, Rs 1,994 crore and Rs 1,754 crore, with movement of 22% and 10.6% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is -1.3% on the day at ₹552.25, and has returned -20.1% over three months. It sits 32% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.1% over the same period, so Adani Total Gas is running 15.0 points behind its peers.

For Adani Total Gas, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.