Adani Total Gas Q1 Results: Net profit rises 14% YoY to Rs 172 crore
Adani Total Gas Ltd (ATGL), the city gas distribution arm of the Adani Group reported a 14% increase in consolidated net profit for the quarter ended 30 June 2024, helped by improved overall performance.
Net profit came in at Rs 172 crore against Rs 150 crore in the June quarter of last fiscal.
Revenue from operations was up 9% at Rs 1239 crore against Rs 1135 crore.
“It has been a good start for FY25 as ATGL delivered a robust operational and financial performance by achieving a 21% year-on-year Ebitda growth on the back of 17% volume growth,” said Suresh P Manglani, ED & CEO of Adani Total Gas.
He added that during the quarter, ATGL received approval from the regulator for the transfer of a Letter of Authorization for the Jalandhar geographical area (GA) which provides high volume growth opportunity to the company.
Earnings before interest, tax, depreciation, and amortization increased by 21% on account of higher volume.
“We continue to see more traction on natural gas as we further build CGD infrastructure and penetrate deeper across multiple GAs. With newer sustainable energy in the form of E-mobility, LNG
and Biomass, we remain fully committed to providing a sustainable energy platform to our consumers and playing a leading role in the country’s energy transition journey," Manglani added.
The company's CNG (compressed natural gas) volume increased by 20% year-on-year on account of network expansion across multiple geographical areas (GAs).
By the end of the June quarter, the company said it had
