NE BUSINESS BUREAU
AHMEDABAD, FEB 3
Adani Total Gas Ltd (ATGL), India’s leading City Gas Distribution company, announced that its revenue from operations has increased 83 pc at Rs 2,141 cr during the nine months ended December 31, 2021
The company’s consolidated net profit slipped 9.3% to Rs 131.58 crore on a 78% jump in net sales to Rs 883.27 crore in Q3 FY22 over Q3 FY21.
Consolidated profit before tax (PBT) fell 9.4% to Rs 176.95 crore in Q3 FY22 from Rs 195.34 crore in Q3 FY21.
On a standalone basis, net profit skid 9.3% to Rs 131.58 crore on a 78% surge in net sales to Rs 883.27 crore in Q3 FY22 over Q3 FY21. EBITDA fell 5% to Rs 211 crore in Q3 FY22 over Rs 222 crore in Q3 FY21.
Total sales volume grew 25% to 192 MMSCM (Million Metric Standard Cubic Meter) in Q3 FY22 as against 153 MMSCM in Q3 FY21. CNG Sales jumped 47% to 101 MMSCM in Q3 FY22 as compared to 68 MMSCM in Q3 FY21. PNG Sales rose 7% to 91 MMSCM in Q3 FY22 over 85 MMSCM in Q3 FY21.
Suresh P Manglani, the chief executive officer (CEO) of Adani Total Gas, said, “It is heartening to receive Letters of Intent (LOIs) from PNGRB for winning 14 new Geographical Areas in the 11th Round CGD. This makes ATGL India’s leading CGD player and enables us to continue playing a key role in realising India’s vision to enhance the share of natural gas in its energy basket from 7.6% to 15% by 2030. In Q3 FY22, despite a significant increase in gas prices and lower allocation of APM gas, Team ATGL has again delivered an excellent financial and operational performance with EBIDTA of Rs 211 crore, addition of 43 new CNG stations, surpassing of 5.3 lakh PNG home connections and connecting to 5,453 PNG industrial and commercial consumers. Overall, it has been yet another outstanding quarter for ATGL.”
Adani Total Gas is one of India’s leading private players in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to Industrial, Commercial, Domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector.
Standalone Operational and Financial Highlights
| Particulars | UoM | 9M FY22 | 9M FY21 | % Change YoY |
Q3 FY22 | Q3 FY21 | % Change YoY |
| Operational Performance | |||||||
| Sales Volume | MMSCM | 507 | 349 | 45% | 192 | 153 | 25% |
| CNG Sales | MMSCM | 260 | 152 | 71% | 101 | 68 | 47% |
| PNG Sales | MMSCM | 248 | 197 | 26% | 91 | 85 | 7% |
| Financial Performance | |||||||
| Revenue from Operations | Rs Cr | 2,141 | 1,170 | 83% | 932 | 522 | 78% |
| EBITDA | Rs Cr | 673 | 525 | 28% | 211 | 222 | -5% |
| Profit before Tax [Before Exceptional Item] |
Rs Cr | 576 | 450 | 28% | 177 | 195 | -9% |
| Exceptional Item* | Rs Cr | – | 10 | – | – | ||
| Profit before Tax | Rs Cr | 576 | 440 | 31% | 177 | 195 | -9% |
| Profit After Tax | Rs Cr | 429 | 327 | 31% | 132 | 145 | -9% |
- During the quarter ended on 30-Sep-20 the Company received an order dated 28 August 2020 from the Hon’ble Supreme Court of India with respect to Service Tax liability on gas connection income pertaining to FY 2008-09.
