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 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.
ATGL’s board also recommended a dividend of Rs 0.25 per share for the fiscal year 2022-23. The company’s operating profit rose 45% to Rs 205 crore in the reporting fourth quarter, from Rs 141 crore in the last quarter. The company’s total expenses also rose to Rs 1,046 crore in the quarter ended March 2023 from Rs 956 crore in the same quarter a year ago.
“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 stations, 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 company has been investing in fast-tracking the development of steel pipeline and CNG stations, creating a natural gas ecosystem in the areas where it operates.
“To provide wider energy offerings to consumers, ATGL, through its SPVs have forayed into E-mobility and Bio-. These SPVs, in the next 12-18 months, will be creating at least 3,000 EV charging points and building one of India’s largest Biogas plants in Uttar Pradesh, whose work is in full swing,” Manglani added.
The company’s resilient performance is attributed to its robust infrastructure and efficient operations, despite the volatility in the gas prices in the market. The company has been expanding its operations and increasing its customer base to remain competitive in the market.
The natural gas industry has been a critical player in the energy sector in India, and ATGL has been playing a significant role in developing the natural gas ecosystem in the country. The company has been expanding its network of CNG stations, PNG connections, and industrial and commercial connections, providing its customers with a cleaner and more affordable alternative to conventional energy sources.
The fast-growing demand for natural gas in India has provided a significant opportunity for ATGL to expand its operations and increase its market share. The company has been leveraging its expertise and capabilities in the natural gas industry to meet the growing demand for clean energy in the country.
The company’s financial performance has been steady, and the company has been delivering consistent growth over the years. The company’s strong financial position has enabled it to make strategic investments in expanding its operations and increasing its customer base.
The company’s foray into the EV charging infrastructure and biogas plants is a testament to its commitment to providing innovative and sustainable energy solutions to its customers. The company has been investing in research and development to develop advanced technologies that are more efficient and environment-friendly.
The future looks bright for ATGL, and the company is well-positioned to capitalize on the growing demand for natural gas in the country. The company’s strong infrastructure and efficient operations give it a competitive edge in the market, and the company is poised for steady growth in the coming years.
In conclusion, ATGL’s strong financial performance, robust infrastructure, and innovative energy solutions make it a significant player in the natural gas industry in India. The company’s focus on expanding its operations, increasing its customer base, and developing sustainable energy solutions has helped it remain competitive in the market.
