Adani Total Gas announced an EBITDA of Rs 300 crore for the quarter, reflecting a 26% year-on-year growth from the Rs 238 crore recorded in the same quarter last year.
Adani Total Gas Ltd reported an 18% year-on-year increase in consolidated net profit, reaching Rs 177 crore for the December quarter compared to Rs 150 crore in the corresponding quarter last year. Revenue from operations also saw a 4.89% YoY rise, reaching Rs 1,244 crore compared to Rs 1,186 crore in the same quarter last year. EBITDA for the quarter was Rs 300 crore, up 26% YoY from Rs 238 crore in the corresponding period of the previous year.
“Through the expansion of CGD infrastructure and seizing opportunities in e-mobility, biomass, and LNG for Transport & Mining (LTM), ATGL has achieved a robust 13% year-on-year growth in volumes over the first nine months. The increase in volume, along with strategic gas sourcing and operational cost efficiency, has resulted in a noteworthy 20% year-on-year growth in EBIDTA over the same period,” stated Executive Director and CEO Suresh P Manglani. Manglani emphasized that Adani Total Gas is currently prioritizing the seamless availability of natural gas through PNG and CNG by expediting infrastructure development across all geographical areas.
Key Business updates
Adani Total Gas reported that Adani TotalEnergies E-mobility Limited (ATEL) has successfully commissioned 329 EV charging points in 10 states and 46 cities. The company also mentioned that an additional 1050-plus EV charging points are currently under construction. Furthermore, plans include the development of about 300-plus charge points in five cities through city municipal corporations and 750-plus charge points in multiple cities through partnerships with various entities, including EV fleet companies, government authorities, and tourism departments.
With this expansion, the EV network will cover 20 states and 130 cities, the statement noted. For Adani TotalEnergies Biomass Limited (ATBL), the first phase of India’s largest biomass plant in Barsana, with a capacity of 225 Tonnes Per Day, is anticipated to be operational by the end of March 2024.
“Preparatory work has begun for the 500 Tonnes Per Day municipal solid waste project, awarded by Ahmedabad Municipal Corporation. In the LNG for Transport & Mining (LTM) segment, ATGL is seizing opportunities by establishing its first LNG Retail Outlet in Dahej, Gujarat,” the statement mentioned. “The commissioning of the Dahej LNG Retail Outlet is scheduled for July 2024. ATGL has devised a plan to establish an LNG station network at strategic locations,” the statement highlighted. “It is planned to be located across Pan India,” it stated.
