Adani Total Gas Q1 revenue rises 9 pc, net profit jumps 20 pc

Ahmedabad (Gujarat) [India], July 29 (ANI): Adani Total Gas Ltd on Monday reported that its revenue from operations during April-June 2024 quarter rose 9 per cent year-on-year to Rs 1,237 crore. In the same quarter of 2023, the revenue stood at Rs 1,135 crore.

Adani Total Gas Ltd, a leading city gas distribution company, today announced its operational and financial performance for the quarter ended June 2024.

During the quarter, the Adani Group company’s net profit or profit after tax rose 20 per cent to Rs 177 crore, as against reported Rs 148 crore in the same quarter of 2023.

The company’s EBITDA rose 21 per cent during the quarter to Rs 308 crore, versus Rs 255 crore in April-June 2023 quarter.

CNG stations now increased to 559, and added 12 new CNG stations during the quarter. Total piped natural gas (PNG) home stood at 8.58 lakh, and added 38,165 new homes during the quarter.

During the quarter, the company received approval from the regulator, Petroleum and Natural Gas Regulatory Board

(PNGRB) for transfer of Letter of Authorization of Jalandhar geographical area pursuant to business transfer agreement. Jalandhar geographical area in Punjab provides high volume growth opportunity to the company.

A total of 1212 EV charging points have been commissioned across 15 states. Additional 740 EV charging points are under various stages of construction with EV fleets companies, government authorities, tourism departments municipal corporations.

“We continue to see more traction on natural gas as we further build CGD infrastructure and penetrate deeper across multiple GAs. With newer sustainable energy in form of E-mobilty, LNG and Biomass, we remain fully committed to provide a sustainable energy platform to our consumers and playing a leading role in the country’s energy transition journey,” said Suresh P Manglani, ED and CEO of Adani Total Gas.

Adani Total Gas 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. Of the 53 GAs, 34 are owned by Adani Total Gas and the balance 19 GAs are owned by Indian Oil-Adani Gas Private Limited (IOAGPL) – a 50:50 joint venture between Adani Total Gas Limited and Indian Oil Corporation Limited.