Q4 results: Adani Total Gas net profit rises 21%, revenue climbs to Rs 1,197 cr

• CNG Stations now increased to 460, added 126 New CNG Stations
• Total PNG home at 7.04 lakh, added over 1.24 lakh new homes on PNG
• Industrial & Commercial connections increased to 7435, added 867 new consumers

NE BUSINESS BUREAU

AHMEDABAD, MAY 3

Adani Total Gas Ltd (ATGL), India’s leading City Gas Distribution company, reported a 21 percent increase in net profit for the fourth quarter ended March 2023.

Net profit climbed 20.74% to Rs 97.91 crore in the January-March quarter compared to Rs 81.09 crore profit in the corresponding period a year ago.

Revenue from operations rose 12.37% to Rs 1197.31 crore in Q4 from Rs 1065.48 crore in the year ago period. Revenue in the December quarter stood at Rs 1185 crore.

The Board of Adani Total recommended a dividend of Rs 0.25 (25%) per equity share of the face value of Re 1 each for the financial year 2022-23 subject to approval of the shareholders.

In FY23, the Adani Group firm logged a rise of 46.06% in revenue to Rs 4683.39 crore against Rs 3206.36 crore in FY22. Net profit rose 7.28% to Rs 546.49 crore in FY23 against Rs 509.40 crore in FY22. Revenue rose 46% on account of higher volume coupled with increase in sales price.

“ATGL has shown resilience and delivered a good all-round performance both on physical infrastructure and financial front despite high gas prices throughout the year. The fast-track development of steel pipeline and CNG stations has helped in creating natural gas ecosystem in geographical areas where we are present and will now help in connecting PNG consumers going forward. To provide wider energy offerings to consumers, ATGL, through its SPVs have forayed into E-mobility and Bio-. This SPVs, in next 12-18 months will be creating over 3000 EV charging points and build one of the India’s largest Biogas plant in Uttar Pradesh, whose work is in full swing.” said Suresh P Manglani, Executive Director & CEO of Adani Total Gas.

“ATGL appreciates the Government of India’s decision on approving the ceiling and floor price on domestic gas, which will ensure stability in domestic gas price. Further, ATGL has passed on the benefit to the end consumers. We are confident that this, coupled with the softening of R-LNG prices, will drive increased demand across both PNG and CNG segments and ATGL will play pivotal role in achieving government vision in moving towards gas-based economy.”

Standalone Operational and Financial Highlights