Adani Total Gas net jumps 21% in Q4

Adani Total Gas has recommended a dividend of ₹0.25 per equity share for the quarter. 

The company’s consolidated revenue from operations for the quarter jumped 12.4% to ₹1,197.3 crore compared to ₹1,065.5 crore in the previous year.  

The company’s operating profit has risen by 45.4% to ₹205 crore in the March quarter from ₹141 crore in the same period last year.  

The company’s debt to equity ratio stands at 0.47 times, and net debt to EBITDA is at 1.11 times as of Jan-Mar 2023. Adani Total Gas has reported a 28% YoY increase in CNG volumes during FY23, mainly due to the expansion of its CNG station network. However, PNG volumes dropped by 13% YoY, primarily due to lower gas consumption by industrial consumers due to high PNG prices resulting from higher gas costs.  

Revenue for the full fiscal year jumped 46% YoY, driven by higher volume and an increase in sales price.   

“ATGL has shown resilience and delivered a good all-round performance both on physical infrastructure and financial front despite high gas prices throughout the year,” said  Suresh P Manglani, Executive Director & CEO of Adani Total Gas.  

He further added that Adani Total Gas appreciates the Government of India’s decision to approve the ceiling and floor price on domestic gas, which will ensure stability in domestic gas prices. He is confident that this, coupled with the softening of R-LNG prices, will drive increased demand across both PNG and CNG segments and Adani Total Gas will play a pivotal role in achieving the government’s vision of moving towards a gas-based economy.  

Adani Total Gas is also expanding its offerings by venturing into E-mobility and Bio. The company’s SPVs will create over 3000 EV charging points and build one of India’s largest Biogas plant in Uttar Pradesh, whose work is in full swing.