Adani Total Gas reported a 59 per cent increase in net profit in the fourth quarter of FY24 at ₹165 crore, while revenue from operations rose 5 per cent to ₹1,257 crore, with both CNG and PNG sales showing decent growth.
In the quarter, EBITDA was 49 per cent higher at ₹305 crore.
Sales of CNG and piped gas rose a fifth to 232 million metric standard cubic meter.
During FY24, the company added 91 new CNG stations, 1.16 lakh households on PNG, completed over 12,000 km of steel pipeline, and added 896 new consumers in the industrial and commercial segment.
New opportunities
“We are fully committed to India’s energy transition journey and continue to invest in creating world-class infrastructure across our geographical areas and diversifying into areas adjacent to our core CGD business,” said Suresh P Manglani, ED and CEO.
“We are incubating new business opportunities in the areas of Compressed Biogas, EV Charging Infrastructure, and LNG for trucking and mining. During the quarter, we commissioned the first phase of one of the India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura and also expanded our e-mobility footprint to 23 States. These are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” he added.