Adani Total Gas Q4 net profit surges 71% to Rs 168 crore

Adani Total Gas Q4 results: Adani Total Gas Limited (ATGL) on Tuesday reported net profit of Rs 168 crore for the quarter ending March (Q4FY24), recording a 71.54 per cent spike from a net profit of Rs 98 crore recorded in the corresponding quarter last year (FY23). 

The company’s revenue from operations came in at Rs 1,258.37 crore from Rs 1,197.31 crore in Q4 FY2023, rising by more than 5 per cent. 

ATGL’s earnings before interest, taxes, depreciation, and amortisation (EBITDA), also known as the operating profit, came in at Rs 1,150 crore which is 27 per cent higher than the EBITDA reported last year. 

Talking about the company’s growth, Suresh P Manglani, ED & CEO of Adani Total Gas said, “FY24 has been a transformative year for ATGL. We delivered a robust operational and financial performance and achieved a 27 per cent YoY EBITDA growth on the back of 15 per cent volume growth.” 

Manglani underlined the ongoing attempts to expand the company’s e-mobility footprint. “We are incubating new business opportunities in the areas of Compressed Biogas, EV Charging Infrastructure, and LNG for trucking and Mining (LTM). During the quarter, we commissioned the 1st phase of one of India’s largest diversified feedstock-to-CBG plants at Barsana in Mathura and also expanded our E-Mobility footprint to 23 states. These, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” he added.

ATGL added 91 new CNG stations taking its total number to 547 while also adding 1.16 lakh new households to Piped Natural Gas (PNG). With this, the total number of home PNG clients has reached the 8.20 lakh mark.

The Industrial & Commercial connections issued by Adani Total Gas in FY24 have increased to 8,331 adding 896 new consumers along with completing close to 12,023 inch kilometres of steel pipeline. 

In the official release, ATGL said that the company is now a signatory to the United Nations Global Compact (UNGC), a voluntary initiative aimed at encouraging businesses worldwide to adopt sustainable and socially responsible policies. 

The shares of Adani Total Gas settled 1.07 per cent higher at Rs 928.90 on April 30.