Adani CNG prices hiked for second time in 13 days:Company raises rates by ₹2.30 ahead of Diwali, taking price above ₹100

Adani has raised the price of CNG by ₹2.30 per kg, taking it from ₹98.47 to ₹100.77. Notably, CNG prices had already been increased sharply by ₹4.45 on 23 October. With the second consecutive price hike just days before the Diwali festival, the price of CNG has crossed the historic ₹100 mark. The increase, coming during the festive season, will directly affect the earnings of ordinary citizens, daily commuters and, particularly, rickshaw drivers, who now face yet another severe blow from inflation. Reasons behind the CNG price hike Adani Gas posts ₹173 crore profit in second quarter Adani Total Gas has announced its results for the second quarter of this year. The company posted a profit of ₹173 crore, compared with a profit of ₹163 crore during the same period last year, marking an approximately 5.9% increase in profit. The company’s revenue also rose 34% to ₹2,109 crore. During the same period last year, the company’s revenue stood at ₹1,576 crore. The increase in the company’s earnings was driven by higher demand for CNG and PNG used for cooking in homes.