Adani Total Gas Limited (ATGL) has reported 17.61 per cent year on year (YoY) increase in net profit in the third quarter of financial year (FY) 2023-24. The net profit during the quarter stood at Rs 1.76 billion as against Rs 1.5 billion profit in the third quarter of FY 2022-23.
The revenue from operations witnessed 4.93 per cent increase on YoY basis from Rs 11.85 billion in October-December 2022 period to Rs 12.44 billion in October-December 2023 period.
Besides, earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 3.01 billion during the third quarter of FY 2023-24 as against Rs 2.38 billion in the third quarter of FY 2022-23.
The total sales volume stood at 224 million metric standard cubic meter (mmscm), compressed natural gas (CNG) volumes at 144 mmscm and piped natural gas (PNG) volumes at 80 mmscm during the October- November 2023 period under consideration.
ATGL is developing CGD networks to supply PNG to industrial, commercial and domestic customers and CNG to the transport sector in 38 geographical areas (GAs) across the country. Of the 38 GAs, ATGL has been authorised to lay CGD infrastructure in 19 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.