Adani Gas Limited (AGL) has registered a standalone net profit of Rs 1.36 billion during July-September 2020, an increase of 12.7 per cent over the corresponding period of the previous year. The profit before tax was recorded at Rs 1.82 billion, an increase of 46 per cent during the same period under consideration.
During the same period, AGL’s total sales volume stood at 131 mmscm, a year-on-year decline of 10 per cent. The compressed natural gas (CNG) sales volume stood at 59 mmscm (year-on-year decline of 21 per cent) and piped natural gas sales were at 72 mmscm (year-on-year increase of 2 per cent).
AGL has maintained uninterrupted gas supply during the second quarter with adoption to the rapidly changing environment. As a result of the company’s concerted efforts, the average volume during September 2020 stood at 1.59 mmscmd, as compared to average volume of 0.71 mmscmd during first quarter of 2020-21, showing a significant volume recovery trend.
Further, AGL has increased its no. of CNG stations to 134 and commenced 19 new CNG stations during the July-September 2020 period. PNG home connections had been increased to 446,000 with 7,704 new connections added during the second quarter itself. AGL has also increased commercial and industrial connection to 4,588.