Adani Total Gas Limited (ATGL) has posted a 8.7 per cent year- on- year (YoY) rise in net profit in the first quarter of financial year (FY) 2023-24. Net profit during the quarter stood at Rs 1.5 billion against Rs 1.38 billion profit in the same period during FY 2022-23.
The revenue from operations witnessed a rise of 2.25 per cent on YoY basis from Rs 11.1 billion to Rs 11.35 billion for the same duration. Besides, the total gas sales volume increased by 8 per cent from 183 million metric standard cubic meters (mmscm) to 198 mmscm. However, sale of compressed natural gas (CNG) rose by 18 per cent from 109 mmscm to 128 mmscm whereas sale of piped natural gas (PNG) witnessed a decline of 6 per cent from 74 mmscm to 70 mmscm.
ATGL has been developing city gas distribution (CGD) networks in various parts of the country to supply piped natural gas to the industrial, commercial, and domestic sectors and CNG to the transport sector. Currently, ATGL has 467 CNG stations and supplies piped cooking gas to around 0.72 million consumers across the country.