E-Paper
Adani Total Gas Q4 results: Net profit rises 71% to ₹168 crore
Adani Total Gas Q4 results: Adani Total Gas revenue from operations have been announced at ₹1,258.37 crore in Q4.
Adani Total Gas Q4 results: Adani Total Gas revenue from operations have been announced at ₹1,258.37 crore in Q4 today. This is just a little higher from last year when it logged ₹1,197.31 crore. The company's consolidated net profit has registered an increase of 71 percent at ₹167.96 crore in Q4. An year ago it was ₹97.91 crore.
Adani Total Gas' earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter was ₹305 crore and this has jumped by 49 percent (YoY).
Read More: Bombay Shaving Company founder on why he doesn’t own a house: ‘I’m paying…'
Adani Total Gas share price closed today at ₹928.90, up by ₹9.80, a gain of 1.07%. The company announced its fourth quarterly result after market hours today.
The company's CNG stations in FY24 have jumped to 547 after adding as many as 91 during the period.
On his part, Suresh Manglani, ED & CEO of Adani Total Gas, said, “We delivered a robust operational and financial performance….”
Manglani listed a number of positives for the future, saying, “We are fully committed to India’s energy transition journey and continue to invest in creating world class infrastructure across our Geographical Areas (GAs) and diversifying into areas adjacent to our core CGD business. We are incubating new business opportunities in the areas of Compressed Biogas, EV Charging Infrastructure, and LNG for trucking and Mining (LTM)."
Read More: Bank holiday on May 1: Are banks closed tomorrow? Check city-wise list here
About the quarterly performance, he added, “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.”
On where he sees growth emanating from, Manglani said, "These, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities.”
Read More: IOC Q4 results: Indian Oil Corporation net profit halves, declares ₹7 dividend
Notably, total sales volume of the company registered quite a boost. It was logged at 232 MMT in fourth quarter, which is a 20 percent rise from last year. Also, during the quarter, the company's compressed natural gas (CNG) volumes hit the 121 MMT mark and PNG volumes 72 MMT.
As for FY24, Adani Total Gas revealed that CNG volume jumped by 21 percent (YoY) du to the ongoing network expansion across various regions.
