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Adani Total Gas Q3 & 9MFY24 Results, Overall Volume up by 21% in Q3 & 13% in 9M Y-o-Y

Adani Total Gas Q3 & 9MFY24 Results, Overall Volume up by 21% in Q3 & 13% in 9M Y-o-Y

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Ahmedabad, 30th January 2024: Adani Total Gas Ltd (“ATGL”),India’s leading City Gas Distribution company, announced today its operational and financial performance for the nine-month ended and quarter ended 31st December 2023.

“With expansion of CGD infrastructure, together with ceasing opportunity in the areas of e-mobility, biomass and LNG for Transport & Mining (LTM), ATGL has once again delivered a double-digit growth in volumes of 13% Y-o-Y on nine months basis. The rise in volume coupled with efficient gas sourcing and an eye on opex haveled to increase in EBIDTA by 20% Y-o-Y in nine months. Company’s present priority is to focus on providing easy access of natural gas inthe form of PNG and CNG by fast tracking the infrastructuredevelopment in all our Geographical Areas,” said Mr. Suresh P Manglani, ED & CEO of Adani Total Gas. “With our consumer centricity approach, apart from e-mobility and biomass (CBG) we are now also embarking upon LNG for Transport & Mining (LTM). ATGL will provide decarbonizing solutions for various entities and help in reducing carbon footprint.  Our strategy will be to offer a wider range of cleaner energy fuel to all our consumers”.

Standalone Operational and Financial Highlights:

Particulars

UoM

9M FY24

9M FY23

% Change
YoY

Q3 FY24

Q3 FY23

% Change
YoY

Operational Performance

 

 

 

 

 

 

 

Sales Volume

MMSCM

633

560

13%

224

186

21%

CNG Sales

MMSCM

408

338

21%

144

116

24%

PNG Sales

MMSCM

225

222

1%

80

70

15%

Financial Performance

 

 

 

 

 

 

 

Revenue from Operations

INR Cr

3,556

3,486

2%

1,243

1,186

5%

Cost of Natural Gas

Rs Cr

2,391

2,501

-4%

824

856

-4%

Gross Profit

Rs Cr

1,165

985

18%

419

329

27%

EBITDA

INR Cr

846

702

20%

301

238

26%

Profit Before Tax

INR Cr

655

574

14%

231

201

15%

Profit After Tax

INR Cr

488

426

15%

172

148

16%

Results Commentary 9M FY24 (Y-o-Y)

CNG Volume increased by 21% Y-o-Y on account of the reductionin CNG prices along with network expansion of CNG stations.
With recovery of PNG Industrial Volume and addition of new PNG connection in domestic and commercial, PNG Volume has increased by 1%
Although the overall volume has increased by 13% Y-o-Y, Revenue from operations has increased by 2% due to reduction in gas cost especially APM gas as ATGL passed on the benefit of APM gas price reduction to consumers which resulted into lower sales price.
EBITDA has increased by 20% Y-o-Y on account of higher volumeand balanced price strategy.

Awards

ATGL is awarded with Climate Action Programme (CAP) Committed category by CII of CAP 2.0 awards program for its commitment towards climate change initiatives.
ATGL won “Golden Peacock Award for HR Excellenceaward 2023 for its HR best practices.

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