Adani Total Gas Q4 net profit rises 21% at Rs 98 crore

AHMEDABAD: Adani Total Gas Limited (ATGL) reported a consolidated net profit of Rs 98 crore for the quarter ended March, up 21% over the previous year period. The same was Rs 81 crore in the year-ago period.

The company’s revenue from operations during the quarter jumped 12% to Rs 1,197 crore as against Rs 1,065 crore in the same period last year, the company said in its regulatory filing on Tuesday.

The company's operating profit rose 45% to Rs 205 crore in the reporting fourth quarter. It was Rs 141 crore in the last quarter. ATGL’s board also recommended a dividend of Rs 0.25 per share for the fiscal year 2022-23.

“ATGL has shown resilience and delivered a good all-round performance both on physical infrastructure and financial front despite high gas prices throughout the year," said Suresh Manglani, executive director and CEO, ATGL.

During the fiscal year, the company expanded its CNG station network to 460 by adding 126 new along with adding 1.24 lakh new residential PNG connections. ATGL’s industrial and commercial connections also increased to 7435, and added 867 new consumers.

“The fast-track development of steel pipeline and CNG stations has helped in creating a natural gas ecosystem in geographical areas where we are present and will now help in connecting PNG consumers going forward. To provide wider energy offerings to consumers, ATGL, through its SPVs have forayed into E-mobility and Bio-. These SPVs, in next 12-18 months will be creating at least 3,000 EV charging points and build one of India's largest Biogas plants in Uttar Pradesh, whose work is in full swing,” Manglani added.