Ahmedabad, July 29, 2024
Leading city gas distribution (CGD) company Adani Total Gas on Monday reported a robust operational and financial performance in the April-June quarter by achieving a 21 per cent EBITDA (Earnings before Interest, Tax, Depreciation, and Amortisation) growth at Rs 308 crore, on the back of 17 per cent rise in volume.
Revenue from operations stood at Rs 1,237 crore — up 9 per cent (year-on-year) — while profit after tax (PAT) saw an impressive 20 per cent growth at Rs 177 crore in Q1 FY25.
The consolidated PAT was Rs 172 crore which increased by 14 per cent YoY.
The company informed that CNG stations increased to 559 (added 12 new stations in the quarter) as CNG volume rose 20 per cent (on-year) on account of network expansion across multiple geographical areas (GAs).
Total PNG homes reached 8.58 lakh in the quarter, adding 38,165 new homes while industrial and commercial connections stood at 8,542, with 211 new consumers.
Suresh P Manglani, ED and CEO of Adani Total Gas, said that in the quarter, the company received approval from the regulator for the transfer of a letter of authorisation for the Jalandhar Geographical Area (GA) which provides a high-volume growth opportunity to the company.
“We have also crossed a significant milestone of 1,000+ EV charging points, reaching 1,212 EV charging points across multiple locations,” Manglani informed.
The company informed that it has EV charging presence in 15 states and more than 740 EV charging points are under various stages of construction with EV fleet companies, government authorities, tourism departments and municipal corporations, etc.
Manglani said that the company continues to see more traction on natural gas as it further builds CGD infrastructure and penetrates 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,” said the Adani Total Gas CEO.
The company is playing a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix.
Of the 53 GAs, 34 are owned by Adani Total Gas Limited (ATGL) and the balance 19 GAs are owned by Indian Oil-Adani Gas Private Limited (IOAGPL) — a 50:50 joint venture between ATGL and Indian Oil Corporation Limited.(Agency)
