Adani Total Gas Q3 Result: Net Profit Rises 17 Per Cent, Revenue Jumps 63 Per Cent

Adani Total Gas clocked an EBITDA of Rs 702 crore and PAT at Rs 426 crore

Adani Total Gas will install 32 EV charge points installed at various strategic locations across India and many more under installations. ( Image Source :Getty )

Adani Total Gas Ltd on Thursday reported 17 per cent growth in consolidated net profit at Rs 150 crore for the quarter ended December 2022. The same was Rs 128 crore in the corresponding quarter of last year. The company has announced its operational and financial performance for the nine months and quarter ended December 31, 2022.

According to the release, the company’s revenue from operations increased by 63 per cent to Rs 3,486 crore. Adani Total Gas clocked an EBITDA of Rs 702 crore and PAT at Rs 426 crore.

“During the quarter, ATGL has delivered a good performance with its calibrated approach despite the high input gas price scenario. While gas sector has been seeing volatility in prices due to geopolitical issues, we have seen a moderation in the international gas prices in the recent weeks. We are confident that this, coupled with the increase in domestic gas supply and expected increased allocation to the CGD sector, will drive increased demand across both PNG and CNG segments,” said Suresh P Manglani, CEO of Adani Total Gas.

The company will install 32 EV charge points installed at various strategic locations across India and many more under installations. The statement said the construction work to build largest CBG plant at Barsana, near Mathura also started.

Manglani also said, “In line with our strategy on acceleration and to boost eco system for PNG and CNG in new Geographical Areas (GAs), we have already completed minimum work program for FY24 towards the steel pipeline network in 11 out of 15 of our Geographical Areas awarded in 9 th and 10 th Round and working with a virtual pipeline in the balance GAs. Similarly, we have also completed the CNG stations required for minimum work programme for FY24 in 14 Geographical Areas out of 15 Geographical Areas, for 9 th and 10 th round Gas to develop an ecosystem in these Geographical Areas”.