Adani Total Gas Q2FY25 net profit rises 7.5 per cent to Rs 187 crore

Ahmedabad (Gujarat) [India], October 24 (ANI): Adani Total Gas (ATGL), India’s leading energy transition company, announced its operational, infrastructural, and financial performance for the quarter and half year that ended September 30.

The company reported 7.5 percent increase in consolidated net profit at Rs 187 crore for the quarter ended September 30 2024, verses a net profit of Rs 173 crore in the year-ago period.

Revenue from operations was up 12 per cent to Rs 1,318 crore in Q2 FY25 as compared to Rs 1,179 crore in the same quarter in FY24.

EBITDA (earnings before interest, tax, depreciation and amortisation) in second quarter was at Rs 313 crore, up 8 percent year-on-year.

Total sales volume was up 15 per cent (YoY) at 242 MMT in Q2, CNG volumes were 162 MMT, while PNG volumes were at 80 MMT.

In Q2FY25, company added 18 new CNG stations increasing the number to 577. The company has commissioned its first liquefied natural gas (LNG) retail outlet in Tiruppur, while two more are under construction in Dahej and Mundra.

Suresh P Manglani, CEO & ED, ATGL said: “We now reach over 9 lakh consumers through our piped gas network, supplying uninterrupted piped natural gas. We have commissioned our first LNG station for the transportation segment and are progressing towards covering key highway networks, aiding India’s decarbonisation march.”

On October 17, the government reduced cheaper gas allocation to city gas distribution (CGD) companies. The Ministry of Petroleum and Natural Gas (MOPNG) has reduced the allocation of administered price mechanism (APM) gas for compressed natural gas (CNG) by 20 percent compared to the previous average quarterly allocation. This will have its implications and Manglani said ATGL will take a call on this in consumer interest.

“Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation, and given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers,” said Manglani

Adani TotalEnergies E-mobility Limited commissioned 1486 EV charging points across 213 cities.

ATGL is authorised in 34 geographical areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix. Further, ATGL has formed 2 wholly owned subsidiaries, namely Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and Biomass Business, respectively. ATGL has also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited, for its gas meter manufacturing business.