Adani Total Gas Ltd (ATGL), India’s leading City Gas Distribution company, on Tuesday announced its operational and financial performance for the quarter ended 30th June 2023, the company announced through an exchange filing.
Operational Highlights Q1FY24 (Standalone)
i) CNG Stations now increased to 467, added 7 New CNG Stations.
ii) Total PNG home at 7.28 lakh, added 23,928 new homes on PNG.
iii) Industrial & Commercial connections increased to 7,615 added 180 new consumers.
iii) Completed approx.11124 Inch Km of Steel Pipeline.
iv) Combined CNG and PNG volume of 198 MMSCM, increase of 8 percent.
Pan India Footprint - Q1FY24 (With JV namely IOAGPL)
i) CNG Stations network of 748, added 11 New CNG Stations.
ii) Total PNG home at 8.72 lakh, added 27,917 new homes on PNG.
iii) Industrial & Commercial connections increased to 8,228 added 207 new consumers.
iv) Completed approx. 19732 Inch Km of Steel Pipeline.
Financial Highlights Q1FY24 (Standalone) Y-o-Y
i) Revenue from Operations at Rs 1,135 crore.
ii) EBITDA of Rs 255 Cr, increased by 12 percent.
iii) Reported PBT of Rs 199 Cr, increased by 7 percent.
iv) Reported PAT at Rs 148 Cr , increased by 7 percent.
Consolidated PAT
i) Consolidated PAT at Rs 150 crore, increased by 9 percent.
Other Key updates
i) 141 EV charging points have been commissioned at 40 locations.
ii) Under bio business, we are building one of the India’s largest Biogas plant in Uttar Pradesh, whose work is in full swing and the phase 1 is likely to be commissioned in Quarter 4 of this financial year.
“In the beginning of the quarter effective April 2023, CGD industry saw key support from Government of India notifying the stability of APM prices with floor and cap which helped ATGL to reduce the prices of PNG and CNG making it more affordable for end consumers to opt for cleaner fuel as their preferred choice. Despite challenges emerging from softening of alternate fuels, Team ATGL achieved excellent physical and financial results with significant increase in infrastructure reach, augmentation of volume and highest ever EBIDTA. With the continued constructive policy support to CGD industry coming from Government, we are confident the further growth in infra numbers and volume shall gain momentum in spreading CGD network across all our 33 Geographical Areas,” said Mr. Suresh P Manglani, ED & CEO of Adani Total Gas.
Adani Total Gas Ltd shares
The shares of Adani Total Gas Ltd on Tuesday at 3:30 pm IST were at Rs 661, down by 0.41 percent.
