Adani Total Gas Limited (ATGL) reported a three-fold increase in the net profit of the first quarter of financial year (FY) 2022 as sales volumes soared. ATGL’s net profit during the quarter stood at Rs 1.38 billion. The net profit is 199 per cent higher as compared with Rs 460 million during the same period last year. Meanwhile, revenue from operations stood at Rs 5.22 billion, recording an annual increase of 153 per cent.
ATGL sold 68 million metric standard cubic meters (mmscm) of compressed natural gas in the quarter as compared to 24 mmscm in the first quarter of FY 2021, when mobility and economic activity got impacted due to a Covid-19 induced nationwide lockdown. Further, the sale of piped natural gas rose by 80 per cent to 72 mmscm.