Home > Business > Adani Total Gas reports strong financial performance for FY24, EBITDA surges by 27pc

Adani Total Gas reports strong financial performance for FY24, EBITDA surges by 27pc

Ahmedabad, April 30, 2024 (TBB Bureau):  Adani Total Gas Ltd (ATGL) on Tuesday announced robust financial results for FY24, with significant growth across key metrics. The company reported an EBITDA of Rs 1,150 crore, marking a remarkable surge of 27% year-on-year. Consolidated profit after tax (PAT) stood at Rs 668 crore, reflecting a substantial increase of 22% compared to the previous fiscal year.

Revenue from operations reached Rs 4,813 crore, driven by a 15% increase in overall volume during FY24 and a notable 20% growth in Q4 FY24, as stated in the company’s official statement.

Suresh P. Manglani, Executive Director and CEO of Adani Total Gas, expressed satisfaction with the company’s performance, highlighting FY24 as a transformative year for ATGL. He emphasized the achievement of a 27% year-on-year EBITDA growth, propelled by a 15% volume increase.

The company expanded its CNG network to 547 stations, while the number of PNG households rose to 8.20 lakh, with an addition of 1.16 lakh new households in the last fiscal year. Notably, CNG volume witnessed a robust 21% year-on-year increase, attributed to network expansion across multiple Geographical Areas (GAs). Additionally, industrial and commercial connections grew to 8,331, with 896 new consumers added.

Manglani reiterated ATGL’s commitment to India’s energy transition journey and highlighted ongoing investments in creating world-class infrastructure across their GAs. He emphasized diversification into areas adjacent to their core City Gas Distribution (CGD) business.

During the quarter, ATGL commissioned the first phase of one of India’s largest diversified feedstock-to-CBG plants at Barsana in Mathura. The company also expanded its E-mobility footprint to 23 states, demonstrating its dedication to sustainable energy solutions and expansion into emerging markets.

The impressive financial and operational performance of ATGL underscores its position as a key player in India’s energy landscape, poised for further growth and innovation in the coming years.

About admin

Leave a Reply

Your email address will not be published. Required fields are marked *

*