Adani Total Gas Q2FY25 net profit rises 7.5 per cent to Rs 187 crore – ThePrint – ANIFeed

Ahmedabad (Gujarat) (India), October 24 (ANI): Adani Total Gas (ATGL), India’s leading energy transition company, announced its operational, infrastructure and financial performance for the quarter and half year ended September 30.

Revenue from operations increased 12 percent to Rs 1,318 crore in Q2 FY25, compared to Rs 1,179 crore in the same quarter of FY24.

EBITDA (earnings before interest, taxes, depreciation and amortization) in the second quarter was 313 million rupees, an increase of 8% over the previous year.

Total sales volume increased by 15% (year-on-year) to 242 million tonnes in the second quarter, CNG volumes were 162 million tonnes, while PNG volumes were 80 million tonnes.

In Q2FY25, the company added 18 new CNG stations, taking the number to 577. The company commissioned its first liquefied natural gas (LNG) retail outlet in Tiruppur, while two more are under construction in Dahej and Mundra.

Suresh P Manglani, CEO and ED, ATGL said, “We now reach over 9 lakh consumers through our piped gas network, providing uninterrupted piped natural gas. We have commissioned our first LNG station for the transportation segment and are making progress towards covering major road networks, helping India’s decarbonization march.”

On October 17, the government reduced the allocation of cheaper gas to urban gas distribution companies (CGD). The Ministry of Petroleum and Natural Gas (MOPNG) has reduced the administered price mechanism (APM) gas allocation for compressed natural gas (CNG) by 20 percent compared to the previous quarterly average allocation. This will have its implications and Manglani said ATGL will attend to this matter in the interest of the consumer.

“Following the recent reduction in the allocation of APM gas, which serves CNG automotive and domestic PNG consumers, we are closely monitoring the situation and given our diversified gas supply portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers,” said Manglani

Adani TotalEnergies E-mobility Limited has commissioned 1,486 electric vehicle charging points across 213 cities.

ATGL is authorized in 34 geographic areas and plays a significant role in the country’s efforts to increase the share of natural gas in its energy mix. Furthermore, ATGL has formed 2 wholly owned subsidiaries namely Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and Biomass businesses respectively. ATGL has also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited, for its gas meter manufacturing business. (ANI)

This report is automatically generated by the ANI news service. ThePrint is not responsible for its content.