Adani Total Gas clocks 27 Percent EBITDA Growth in FY24

By siliconindia  |  Tuesday, 30 April 2024, 06:59:43 PM IST

Adani Total Gas clocks 27 Percent EBITDA Growth in FY24
Adani Total Gas Ltd (ATGL) disclosed its financial performance for FY24, showcasing significant growth across various metrics. Their EBITDA stood at Rs 1,150 crore, marking a notable surge of 27% compared to the previous fiscal year. Consolidated profit after tax (PAT) also experienced a healthy increase, reaching Rs 668 crore, a rise of 22% year-on-year. Revenue from operations hit Rs 4,813 crore, propelled by a 15% volume growth for the fiscal year and a substantial 20% increase in Q4 FY24.
Suresh P. Manglani, the Executive Director and CEO of Adani Total Gas, expressed satisfaction with the company's performance, citing it as a transformative year. He highlighted a robust operational and financial performance, underpinned by a 27% YoY EBITDA growth, primarily driven by a 15% volume growth.
The company witnessed notable expansion across its CNG and PNG networks, with the number of CNG stations reaching 547 and PNG households totaling 8.20 lakh, including an addition of 1.16 lakh new households in the last fiscal year. CNG volume saw a significant uptick of 21% YoY due to network expansion efforts across various Geographical Areas (GAs). Additionally, industrial and commercial connections increased to 8,331, with 896 new consumers added.
Adani Total Gas reiterated its commitment to India's energy transition journey, emphasizing investments in creating top-notch infrastructure across its GAs and diversifying into adjacent areas of its core CGD business. Notable initiatives during the quarter included the commissioning of the first phase of one of India's largest diversified feedstock-to-CBG plants in Barsana, Mathura, and the expansion of its E-mobility footprint to 23 states.
Regarding electric vehicle (EV) infrastructure, the company has commissioned 606 EV charging points across 14 states, with over 1,040 additional points under various stages of construction. With authorization in 33 Geographical Areas, ATGL plays a pivotal role in India's efforts to increase the share of natural gas in its energy mix.
To further bolster its presence in emerging sectors, ATGL established two wholly-owned subsidiaries, namely Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL). These developments underscore ATGL's strategic vision and commitment to sustainable growth.
Source: IANS

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