Q1FY25 Results: Adani Total Gas PAT up 20% to Rs 177 cr on strong CNG demand

• Overall Volume up by 17% in Q1 FY25, Y-o-Y
• CNG network increases to 559 stations
• PNG household increased to 8.58 lakh PNG homes
• EBITDA up 21% Y-o-Y – INR 308 Cr
• 1212 EV charging points spread across 15 states

NE BUSINESS BUREAU

AHMEDABAD, JULY 30

Adani Total Gas Ltd, India’s leading City Gas Distribution (CGD) company, on Monday reported a jump in first-quarter profit, helped by strong demand for the cleaner-burning compressed natural gas (CNG), sending its shares 2% higher.

The Adani group company’s profit after tax rose 20% to Rs 177 crore in the three months ended June 30, marking its sixth straight rise in quarterly profit.

The gas distributor’s CNG sales volumes, which account for over half of its total sales, jumped 20% during the quarter with the addition of 24 new stations across the country.

Demand for CNG, used mainly in the transport sector, comes amid a government push to rein in vehicular pollution. India’s fuel consumption in the quarter was also driven by strong industrial activity in the run-up to the general elections.

Revenue from operations rose to Rs 1,239 from Rs 1,135 crore a year ago.

Sales volume in the company’s piped natural gas (PNG) segment, its second-biggest, rose 11% to 77 million standard cubic meter of gas per day.

The rise in profit comes even as Indian city gas distributors bought spot LNG – the key raw material for CNG – at higher import prices amid a decline in domestic output.

“It has been a good start for FY25 as ATGL delivered a robust operational and financial performance by achieving a 21% YoY EBITDA growth on the back of 17% volume growth,” said Suresh P Manglani, ED & CEO of Adani Total Gas .“During the quarter, ATGL received approval from regulator for the transfer of Letter of Authorization for Jalandhar Geographical Area (GA) which provides high volume growth opportunity to the Company. We have also crossed a significant milestone of 1000+ EV charging points, reaching 1212 EV charging points across multiple locations.

“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.”

Standalone Operational and Financial Highlights: