Adani Group’s shares always remain in the news. Many times one of its subsidiary companies makes good returns in a day. Now Adani Group has released the quarterly results of Adani Total Gas. On April 30, Adani Total Gas reported a 71 percent increase in consolidated net profit to Rs 167.96 crore for the fourth quarter of the financial year 2023-24, compared to Rs 97.91 crore a year ago. The company’s revenue from operations stood at Rs 1,258.37 crore in Q4, which is slightly more than Rs 1,197.31 crore last year. The company said that EBITDA in the fourth quarter was Rs 305 crore, increasing by 49 percent on a year-on-year basis. In FY24, the company increased the number of CNG stations to 547, and added 91 new stations in the year.
The CEO of the company gave information
Suresh P Mangalani, ED and CEO of Adani Total Gas, said that we are creating new business opportunities in the areas of compressed biogas, EV charging infrastructure and LNG for trucking and mining (LTM). During the quarter, we commissioned the first stage of one of India’s largest diversified feedstock-to-CBG plants at Barsana, Mathura and expanded our e-mobility footprint across 23 states. These are our next big growth drivers with LTM and we are continuing to develop a sustainable business plan around these new opportunities.
Company’s sales increased
The company’s total sales volume in the fourth quarter was 232 MMT, which is 20 percent more than last year. In the quarter, Adani Total Gas’ compressed natural gas (CNG) volumes stood at 121 MMT, while PNG volumes stood at 72 MMT. The company said in a press release that CNG volumes have increased by 21 percent in FY2014 due to network expansion in multiple geographical areas (GAs).
