Adani Total Gas Ltd on Tuesday reported an 18 per cent year-on-year (YoY) rise in consolidated net profit at Rs 177 crore for the December quarter compared with Rs 150 crore in the same quarter last year. Revenue from operations rose 4.89 per cent YoY to Rs 1,244 crore against Rs 1,186 crore in the same quarter last year.
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Ebitda for the quarter came in at Rs 300 crore, up 26 per cent YoY over Rs 238 crore in the same quarter last year.
“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,” said ED & CEO Suresh P Manglani.
Manglani said Adani Total Gas’ present priority is on providing easy access of natural gas in the form of PNG and CNG by fast tracking the infrastructure development in all geographical areas.
Key Business updates
In the case of Adani TotalEnergies E-mobility Limited (ATEL), 329 EV charging points have been commissioned across 10 states,46 cities, Adani Total Gas said.
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The company said an additional 1050-plus EV charging points were under construction and that about 300-plus charge points will be built at five cities through city municipal corporations and 750-plus charge points at multiple cities were being partnered with various players, which includes various EV fleets companies, government authorities and various tourism departments etc.
“With these EV network will be spread across which 20 states and 130 cities,” it said.
In the case of Adani TotalEnergies Biomass Limited (ATBL), Phase-1 (225 Tonnes Per Day) of India’s largest 600 TPD biomass plant in Barsana is expected to be commissioned by ATBL by end of March 2024.
“The preparatory work on 500 TPD municipal solid waste project awarded by Ahmedabad Municipal Corporation has already commenced. LNG for Transport & Mining (LTM). ATGL is embarking on the opportunities in the LNG segment as a Transport fuel with building its 1st LNG Retail Outlet in Dahej, Gujarat which is expected to be
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commissioned by July 2024. ATGL has developed plan to setup LNG station network at various strategic
location across Pan India,” it said.
