Adani Total Gas Q1 net profit jumps ~14% y-o-y

30 Jul 2024 , 11:24 AM

Adani Total Gas Ltd (ATGL), the Adani Group’s city gas distribution subsidiary, announced a 14% increase in consolidated net profit for the quarter ended June 30, 2024, boosted by improved overall performance. 

Net profit was ₹172 Crore, compared to ₹150 Crore in the June quarter of the previous year.

Revenue from operations increased 9% to ₹1,239 Crore from ₹1,135 Crore.

ATGL has had a strong start to FY25, with a 21% year-on-year Ebitda rise and 17% volume growth, according to Suresh P Manglani, ED & CEO of Adani Total Gas.

He noted that during the quarter, ATGL got regulatory permission for the transfer of a Letter of Authorisation for the Jalandhar geographical area (GA), which presents the firm with a significant volume growth opportunity. 

Earnings before interest, taxes, depreciation, and amortisation grew by 21% due to higher volume. 

The company’s CNG (compressed natural gas) volume climbed by 20% year on year as its network expanded across numerous geographical areas (GAs).

By the conclusion of the June quarter, the business said it had commissioned 1212 EV charging points across 15 states, with another 740+ EV charging points in various phases of construction.

Thibault Lesueur has been appointed as a non-executive director (non-independent) by the company. Lesueur is the chairman and managing director of TotalEnergies Marketing India, as well as the Vice President of South Asia for TotalEnergies’ Marketing & Services business, which is headquartered in Mumbai.

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