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Adani Gas on Wednesday reported a 42% fall in net profit in the June quarter to  ₹46 crore, against  ₹79 crore in the year-ago period. (Mint)
Adani Gas on Wednesday reported a 42% fall in net profit in the June quarter to 46 crore, against 79 crore in the year-ago period. (Mint)

Total-Adani JV to seek permit for setting up fuel stations

The joint venture, Total Adani Fuels Marketing Pvt. Ltd, will soon apply for a licence under the new liberal fuel retailing rules, Suresh Manglani said

A joint-venture by Adani Gas and France’s Total will soon seek government permission to open retail fuel stations in India, Adani’s chief executive said on Wednesday.

“Definitely we will take full benefit of the expertise and strength of Total," Suresh Manglani told reporters on an earnings call on Wednesday, adding that the intent was to become a full-service operator, providing a multi-fuel offering.

The joint venture, Total Adani Fuels Marketing Pvt. Ltd, will soon apply for a licence under the new liberal fuel retailing rules, Manglani said.

Adani Gas on Wednesday reported a 42% fall in net profit in the June quarter to 46 crore, against 79 crore in the year-ago period.

Revenue from operations also dropped 57% to 207 crore against 479 crore in Q1FY20 .

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