Adani Total Gas Limited (ATGL) has reported 71.54 per cent increase in net profit in the fourth quarter of financial year (FY) 2023-24. The net profit during the quarter stood at Rs 1.68 billion as against Rs 0.98 billion profit in the fourth quarter of FY 2022-23.
The revenue from operations witnessed 5.09 per cent increase from Rs 11.97 billion to Rs 12.58 billion during the period under consideration.
Besides, earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 3.05 billion during the fourth quarter of FY 2023-24 as against Rs 2.05 billion in the fourth quarter of FY 2022-23.
The total sales volume stood at 232 million metric standard cubic meter (mmscm), compressed natural gas (CNG) volumes at 149 mmscm and piped natural gas (PNG) volumes at 83 mmscm during the January 2023- March 2024 period under consideration.
ATGL is developing CGD networks to supply PNG to industrial, commercial and domestic customers and CNG to the transport sector in 52 geographical areas (GAs) across the country. Of the 52 GAs, ATGL has been authorised to lay CGD infrastructure in 33 GAs solely while another 19 GAs have been allotted to Indian Oil Adani Gas Private Limited, a joint venture company of Indian Oil Corporation Limited (IOCL) and ATGL, having 50 per cent stake each. Currently, it operates 547 CNG stations and provides PNG connectivity to around 82 million households and 8,331 industrial and commercial consumers.