Adani Total Gas Ltd (ATGL), India’s leading City Gas Distribution company, announced its operational and financial performance for the nine-month ended and quarter ended 31st December 2023, the company announced through an exchange filing.
Operational Highlights - Standalone
In the operational domain for the first nine months of FY24, Adani Total Gas achieved an increase in the number of Compressed Natural Gas (CNG) stations to 505, with the addition of 45 new stations.
The company expanded its presence in the domestic market, reaching a total of 7.79 lakh PNG (Piped Natural Gas) households, an addition of 74,501 new households during this period.
Industrial and commercial connections also grew to 8,071, with 636 new consumers added. Furthermore, Adani Total Gas successfully completed approximately 11,712 Inch Kilometers of Steel Pipeline, contributing to its robust infrastructure. The combined volume of CNG and PNG stood at 633 MMSCM, reflecting a notable 13 per cent increase.
Financial performance - Standalone
In terms of financial performance for the same period, Adani Total Gas reported a revenue from operations of Rs 3,556 Crores, marking a year-on-year growth.
The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached Rs 846 Crores, witnessing a commendable 20 per cent increase. Profit Before Tax (PBT) and Profit After Tax (PAT) showed positive growth, reaching Rs 655 Crores (14 per cent increase) and Rs 488 Crores (15 per cent increase), respectively.
In the third quarter of FY24, the company's revenue from operations amounted to Rs 1,243 Crores, with EBITDA, PBT, and PAT at Rs 301 Crores (26 per cent increase), Rs 231 Crores (15 per cent increase), and Rs 172 Crores (16 per cent increase), respectively.
Consolidated result
On a consolidated level for the first nine months, the Consolidated PAT stood at Rs 500 Crores, reflecting a robust 11 per cent increase.
“With expansion of CGD infrastructure, together with ceasing opportunity in the areas of e-mobility, 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,” said Suresh P Manglani, ED & CEO of Adani Total Gas.
