Adani Total Gas Q3 Results FY2024, Net profit at Rs.176.64 crores

Shreya Anaokar 30th January 2024 - 04:45 pm

On 30th January, Adani Total Gas announced its quarterly results.

Key Highlights:

- Revenue from operations at Rs.1244 crores
- PBT was reported at Rs.235.82 crores
- Profit after Tax was reported at Rs.176.64 crores

Business Highlights:

- There are presently 505 CNG stations, with 45 new ones installed.
- The total number of homes with PNG is 7.79 lakh, with 74,501 new households added.
- Industrial and Commercial connections are up to 8,071, with 636 new customers.
- The 11,712 inch-kilometer steel pipeline is completed.
- The combined volume of PNG and CNG is 633 million standard cubic meters, a 13% increase.
- There are already 329 EV charging stations operational in 10 states and 46 cities.
- More than 1050 EV charging stations are being built.
- ATBL anticipates commissioning Phase-1 (225 Tonnes Per Day) of India's largest 600 TPD biomass project at Barsana by the end of March 2024.
- In order to take advantage of the prospects in the LNG market as a transport fuel, ATGL is constructing its first LNG retail outlet in Dahej, Gujarat, which is scheduled to open in July 2024.
- ATGL has created a strategy to establish an LNG station network in many key locations throughout India.

Commenting on the results, Mr. Suresh P Manglani, ED & CEO of Adani Total Gas said: “With expansion of CGD infrastructure, together with ceasing opportunity in the areas of emobility, biomass and LNG for Transport & Mining (LTM), ATGL has once again delivered a double-digit growth in volumes of 13% Y-o-Y on nine months basis. The rise in volume coupled with efficient gas sourcing and an ‘eye’ on opex have led to increase in EBIDTA by 20% Y-o-Y in nine months. Company’s present priority is to focus on providing easy access of natural gas in the form of PNG and CNG by fast-tracking the infrastructure development in all our Geographical Areas. With our consumer centricity approach, apart from e-mobility and biomass (CBG) we are now also embarking upon LNG for Transport & Mining (LTM). ATGL will provide decarbonizing solutions for various entities and help in reducing carbon footprint. Our strategy will be to offer a wider range of cleaner energy fuel to all our consumers”.