Adani Total Gas Q4 PAT tumbles 45% YoY to Rs 81 cr

5 May 2022 , 11:40 AM

Consolidated net sales was at Rs 1,012.02 crore for the quarter ended 31 March 2022 as against Rs 584.48 crore during the same period in the previous year, registering a growth of 73.1% year-on-year (YoY).

On a standalone basis, net profit slumped 47.58% to Rs 76 crore on a 73.45% surge in net sales to Rs 1,065 crore in Q4 FY22 over Q4 FY21.

Standalone profit before tax stood at Rs 104 crore in the fourth quarter, down by 45.54% from Rs 191 crore in the same period last year. Profitability was dented after the company reported a 129.2% spike in total expenses to Rs 880.88 crore in Q4 FY22 over Rs 384.29 crore in Q4 FY21. The EBITDA declined 37.05% to Rs 141 crore in Q4 FY22 over Rs 224 crore in Q4 FY21.

For Q4 FY22, despite significant increase in the R-LNG (Regassified Liquefied Natural Gas) prices, volume curtailment by gas suppliers to ATGL (Adani Total Gas), APM gas price revision effective from 01 Oct 2021 and lower allocation of APM gas, the company registered EBITDA of Rs 141 crore as against EBIDTA of Rs 224 crore during the corresponding quarter of previous year. As a result of volume curtailment by our gas suppliers, ATGL has also consequently calibrated its supplies to industrial consumers.

The total sales volume grew 13.85% to 189 MMSCM (Million Metric Standard Cubic Meter) in Q4 FY22 as against 166 MMSCM in Q4 FY21. CNG Sales jumped 33.33% to 100 MMSCM in Q4 FY22 as compared to 75 MMSCM in Q4 FY21. PNG Sales fell 2.1% to 89 MMSCM in Q4 FY22 over 91 MMSCM in Q4 FY21.

On full year basis, the company reported a 4.5% increase in net profit to Rs 504.66 crore on a 79.2% rise in net sales to Rs 3,037.81 crore in FY22 over FY21. EBITDA rose 9% to Rs 815 crore in FY22 over Rs 749 crore in FY21.

Suresh P Manglani, the chief executive officer (CEO) of Adani Total Gas, said, ?In spite of challenging global circumstances with gas prices at an all-time high, local constraints on the supply of R-LNG and a shortfall in APM gas, team ATGL has once again delivered a resilient performance both by adding 117 CNG stations and by generating our highest annual consolidated PAT of Rs 510 crore. The award of 14 new geographical areas expands ATGLs coverage to 124 districts touching 14% of the population. This will aid in taking the momentum further forward of building city gas distribution infrastructure on a panIndia basis and provide ATGL the opportunity to serve a larger consumer base in the coming years. Further, as part of a dedicated business strategy, the board has approved the formation of two separate SPVs for E-Mobility and Bio businesses. This will be immensely advantageous considering that ATGL and its promoters have a strong infrastructure and utility presence across India.?

Adani Total Gas is one of Indias leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.

Shares of Adani Total Gas were trading 0.92% higher to Rs 2,467 on BSE.

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