Adani Total Gas Q4 Results: Net Profit Rises 59%; Volume Up By 15%

Adani Total Gas Q4 Results: Adani Total Gas said it added 91 new CNG stations to take the strength to 547 across the geographies where it holds city gas licence

Adani Total Gas Ltd, the city gas retailing joint venture of Adani group and TotalEnergies of France, on Tuesday announced its operational and financial performance for the full year (FY24) and quarter ended March 31, 2024. The company clocked a net profit of Rs 165 crore in Q4 as against Rs 104 crore in the same period a year back, the company said in a statement.

The firm, which retails CNG to automobiles and pipes natural gas to household kitchen for cooking purpose, saw a revenue increase of 5 per cent to Rs 1,257 crore while EBITDA surged 49 per cent to Rs 305 crore the quarter.

CNG sales rose 20 per cent to 149 million standard cubic metres and piped natural gas sales were up 15 per cent to 83 mmscm.

For the full fiscal year, the company reported a net profit of Rs 653 crore on a revenue of Rs 4,813 crore. This compared with Rs 530 crore net profit on a revenue of Rs 4,683 crore in 2022-23.

Adani Total Gas said it added 91 new CNG stations to take the strength to 547 across the geographies where it holds city gas licence.

Total piped natural gas (PNG) homes swelled to 8.20 lakh after adding 1.16 lakh new households.

"FY24 (April 2023 to March 2024 fiscal year) has been a transformative year for ATGL. We delivered a robust operational and financial performance and achieved a 27 per cent year-on-year EBITDA growth on the back of 15 per cent volume growth," Adani Total Gas CEO Suresh P Manglani said.

“During the quarter, we commissioned the 1st phase of one of the India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura and also expanded our E-Mobility footprint to 23 states. These, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” he added.