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Business News/ Markets / Stock Markets/  Adani Total Gas Q4 Result: PAT up 21% to 98 cr, dividend declared

Adani Total Gas Q4 Result: PAT up 21% to ₹98 cr, dividend declared

Its consolidated revenue from operations rose by 12 per cent to ₹1,114.8 crore during the quarter under review compared to ₹1,012 crore a year ago.

Adani Total Gas (Bloomberg)Premium
Adani Total Gas (Bloomberg)

Adani Total Gas on Tuesday  reported 21 per cent rise in net profit (attributable to owners) at 97.91 crore for the quarter that ended March 2023. This is against a consolidated net profit of 81.09 crore in the corresponding quarter last fiscal.

Its consolidated revenue from operations rose by 10.2 per cent to 1,114.8 crore during the quarter under review compared to 1,012 crore a year ago. On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) gained 49 per cent year-on-year to 195.2 crore and margins improved to 17.5 percent from 13 per cent in March 2022 quarter.

The Board has recommended Dividend of Re 0.25/- per Equity Share of face value of Re 1 each fully paid up for the Financial Year 2022-23, said Adani Total Gas in its filing.

“The fast-track development of steel pipeline and CNG stations has helped in creating natural gas ecosystem in geographical areas where we are present and will now help in connecting PNG consumers going forward. ATGL appreciates the Government of India’s decision on approving the ceiling and floor price on domestic gas, which will ensure stability in domestic gas price. Further, ATGL has passed on the benefit to the end consumers. We are confident that this, coupled with the softening of R-LNG prices, will drive increased demand across both PNG and CNG segments and ATGL will play pivotal role in achieving government vision in moving towards gas-based economy, " said Mr. Suresh P Manglani, Executive Director & CEO of Adani Total Gas.

CNG volume increased 28 percent YoY on account of network expansion of CNG stations, said the company in a press release.

On the other hand, PNG volume decreased by 13 percent YoY due to lesser offtake of gas largely by industrial consumers owing to high PNG prices. As of FY23 end, the company's CNG stations increased to 460.

The company said that it has added 126 new CNG stations, thus now standing at 460, while total PNG home at 7.04 lakh, added over 1.24 lakh new homes. The industrial & commercial connections increased by 867 new consumers to 7435.

On Tuesday, the company's scrip ended 1.29 per cent up at 956.85 on BSE.

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Published: 02 May 2023, 03:08 PM IST
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