Adani Total Gas Ltd (ATGL), India’s leading City Gas Distribution company, announced today its operational and financial performance for the Half Year ended and quarter ended 30th September 2023., the company on Tuesday announced through an exchange filing.
Financial Highlights (Standalone) for Q2FY24 Year-on-Year:
Revenue from Operations has reached Rs 1,178 Crores. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stands at Rs 290 Crores, demonstrating a robust 23% increase.
Profit Before Tax (PBT) has been reported at Rs 225 Crores, marking a substantial 20% rise. Profit After Tax (PAT) stands at Rs 168 Crores, reflecting a commendable 20% increase.
Financial Highlights (Standalone) for H1FY24 Year-on-Year:
Revenue from Operations for H1FY24 stands at Rs 2,313 Crores. EBITDA is reported at Rs 545 Crores, signifying a strong 17% growth.
The company reported PBT has reached Rs 424 Crores, showcasing a 14% increase and PAT has risen to Rs 315 Crores, highlighting a 14% growth.
Consolidated Profit After Tax (PAT) for H1FY24
The consolidated PAT for H1FY24 is reported at Rs 323 Crores, reflecting a solid 8% increase.
Operational Milestones (Standalone) in H1FY24:
ATGL's network of Compressed Natural Gas (CNG) stations has now grown to 483, with the addition of 23 new CNG stations. The company has expanded its footprint in Piped Natural Gas (PNG) by adding 51,801 new homes, bringing the total to 7.56 lakh.
Industrial and Commercial PNG connections have increased to 7,849, with the addition of 414 new consumers.
The company has successfully completed approximately 11,448 Inch Km of Steel Pipeline. The combined volume of CNG and PNG has reached 409 MMSCM, marking a significant 9% increase.
Pan India Footprint (Including Joint Venture with IOAGPL) in H1FY24
In collaboration with its joint venture, IOAGPL, ATGL's CNG station network now stands at 785, with the addition of 48 new CNG stations.
The number of PNG homes has surged to 9.04 lakh, with the addition of 59,017 new homes. The Industrial and Commercial connections have increased to 8,502, adding 481 new consumers. A 20,135 Inch Km of Steel Pipeline has been successfully completed.
Other Business Updates:
E-mobility Business:
ATGL has commissioned 221 Electric Vehicle (EV) charging points at 64 locations, making strides in the e-mobility sector. The company has partnered with various players to develop and install EV charging facilities across India.
Bio Business:
ATGL has secured a tender from the Ahmedabad Municipal Corporation to Design, Build, Finance, and Operate a 500 Tons Per Day (TPD) Municipal Solid Waste (MSW) based Bio Compressed Biogas (CBG) plant in Ahmedabad.
ATGL is currently in the process of constructing one of India's largest CBG plants in Barsana, Uttar Pradesh, with sourcing of the required feedstock for the plant now underway.
“ATGL has shown continuance of all round strong performance in our core CGD business. The volumes have increased by 9% during the first half year of this financial year resulting in an increase of EBITDA by 17% to Rs 545 Crs. The company is continuing its focus on building PNG and CNG infrastructure across all its Geographical Areas to extend easy access of PNG and CNG giving boost to adaptation of natural gas as a fuel of their choice by the large numbers of PNG and CNG consumers.” said Suresh P Manglani, ED & CEO of Adani Total Gas.
Adani Total Gas shares
The shares of Adani Total Gas on Tuesday ta 3;30 pm ISt closed at Rs 564.40, up by 0.12 percent.
