Ahmedabad (Gujarat) [India], October 31 : Adani Total Gas on Tuesday reported that its profit after tax during the second quarter of the 2023-24 fiscal year rose 20 per cent to Rs 168 crore. In the same quarter last fiscal, the net profit was Rs 139 crore in standalone profit after tax.
Similarly, in the first two quarters combined (April-September), the net profits increased 14 per cent to Rs 315 crore against Rs 277 crore.
Coming to the revenue from operations of the Adani Group company, they however declined marginally, 1 per cent during the second quarter to Rs 1,178 crore, and rose marginally, 1 per cent, to Rs 2,313 crore in the two quarters combined.
An Adani Gas release said that the company continues to deliver the highest-ever EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).
It said CNG stations increased to 483, PNG consumers increased to 7.64 lakh, CNG volume was up 20 per cent in Q2 and 19 per cent in H1 year on year.
"ATGL has shown continuance of all-round strong performance in our core CGD business. The volumes have increased by 9 per cent during the first half year of this financial year resulting in an increase of EBITDA by 17 per cent to Rs 545 crore. The company is continuing its focus on building PNG and CNG infrastructure across all its geographical areas to extend easy access to PNG and CNG gives a boost to the 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.
"ATGL has also made significant progress in e-mobility and biomass businesses. In e-mobility business, charging points have now increased to 221 charging points across 64 locations and we soon intend to reach to 3000 charging points. In the biomass business, we have won 500 Tons Per Day (TPD) Municipal Solid Waste (MSW) based biogas project in Ahmedabad in this quarter and we continue to explore many such opportunities across India.
"We are striving to commission phase 1 of our Barsana Compressed Bio Gas (CBG) plant this financial year. With a consumer-centric approach along with our strategic preparedness to offer a wider range of sustainable energy solutions to all our consumers, I firmly believe in ATGL's readiness for a promising future," he added.
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