Adani Total Gas Announces Q4 Results, Reveals Robust Growth

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Adani Total Gas Announces Q4 Results, Reveals Robust Growth

| Updated: April 30, 2024 21:21

Adani Total Gas Ltd. has announced its Q4 results today, revealing a slight increase in revenue from operations at ₹1,258.37 crore, up from ₹1,197.31 crore last year. The company’s consolidated net profit has seen a surge of 71 percent, reaching ₹167.96 crore in Q4, compared to ₹97.91 crore a year ago.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the fourth quarter stood at ₹305 crore, marking a 49 percent year-on-year jump.

The share price of Adani Total Gas closed today at ₹928.90, up by ₹9.80, reflecting a gain of 1.07%. The company announced its fourth quarterly result after market hours today.

In FY24, the company’s CNG stations have increased to 547, with the addition of 91 during the period.

“FY24 has been a transformative year for ATGL. We delivered a robust operational and financial performance and achieved a 27% YoY EBITDA growth on the back of 15% volume growth,” said Mr. Suresh P Manglani, ED & CEO of Adani Total Gas.

He highlighted the company’s commitment to India’s energy transition journey and its ongoing investment in creating world-class infrastructure across its Geographical Areas (GAs).

Mr Manglani also spoke about the company’s diversification into areas adjacent to its core CGD business and the incubation of new business opportunities in Compressed Biogas, EV Charging Infrastructure and LNG for trucking and Mining (LTM).

During the quarter, the company commissioned the first phase of one of India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura. It expanded its E-Mobility footprint to 23 states.

Mr Manglani identified these areas, along with LTM, as the company’s next big growth drivers and confirmed that the company is steadily executing a sustainable business plan around these opportunities.

The company’s total sales volume registered a substantial boost, logged at 232 MMT in the fourth quarter, a 20 percent rise from last year. The company’s compressed natural gas (CNG) volumes hit the 121 MMT mark and PNG volumes reached 72 MMT.

For FY24, Adani Total Gas revealed that CNG volume jumped by 21 percent year-on-year due to the ongoing network expansion across various regions.

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