Adani Total Gas Q4FY24 net profit jumps 71% to Rs 168 cr
Ahmedabad: Adani Total Gas on Tuesday reported a notable rise of 71% in its consolidated net profit for the fourth quarter of the financial year 2023-24 to Rs 167.96 crore compared to Rs 97.91 crore the previous year.
The company's revenue from operations for Q4 stood at Rs 1,258.37 crore, slightly up from Rs 1,197.31 crore in the corresponding period last year.
Adani Total Gas also noted a considerable increase in EBITDA (earnings before interest, tax, depreciation, and amortization) for Q4, reaching Rs 305 crore, marking a 49% year-on-year growth.
During FY24, the company expanded its network of CNG stations to 547, with the addition of 91 new stations throughout the year.
“We are incubating new business opportunities in the areas of Compressed Biogas, EV Charging Infrastructure, and LNG for trucking and Mining (LTM).
"During the quarter, we commissioned the 1st 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, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” said Suresh P Manglani, ED & CEO of Adani Total Gas.
During Q4, the company's total sales volume reached 232 MMT, marking a notable 20% increase compared to the previous year.
Within this period, Adani Total Gas saw compressed natural gas (CNG) volumes at 121 MMT, while piped natural gas (PNG) volumes stood at 72 MMT.
According to a press release from the company, the surge in CNG volume by 21% year-on-year in FY24 was came riding on the expansion of its network across various geographical areas (GAs).
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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