Adani Total Gas clocks 27 per cent EBITDA growth in FY24, overall volume up 15 per cent

Ahmedabad, April 30 (IANS) Leading city gas distribution company Adani Total Gas Ltd (ATGL) on Tuesday announced EBITDA of Rs 1,150 crore in FY24 that surged by 27 per cent (year-on-year), with consolidated profit after tax (PAT) at Rs 668 crore which increased by 22 per cent as compared to last fiscal year.

Revenue from operations was Rs 4,813 crore as the overall volume went up by 15 per cent in FY24 and 20 per cent in Q4 FY24 (year-on-year), the company said in a statement.

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

The CNG network increased to 547 stations as PNG households increased to 8.20 lakh, adding 1.16 lakh new households to PNG in the last fiscal year. CNG volume alone increased by 21 per cent (YoY), on account of network expansion across multiple Geographical Areas (GAs).

Industrial and commercial connections increased to 8,331, adding 896 new consumers.

“We are fully committed to India’s energy transition journey and continue to invest in creating world-class infrastructure across our GAs and diversifying into areas adjacent to our core CGD business,” said Manglani.

“During the quarter, we commissioned the 1st phase of one of India’s largest diversified feedstock-to-CBG plants at Barsana in Mathura and also expanded our E-mobility footprint to 23 states,” he added.

The company said that 606 EV charging points have been commissioned across 14 states and an additional over 1,040 EV charging points are under various stages of construction.

The company is authorised in 33 Geographical Areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix.

ATGL has formed two wholly-owned subsidiaries — Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL).

–IANS

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