Adani Total Gas Q4 Results: Profit Rises 21% As Revenue Grows

Adani Total Gas Ltd., the fuel distribution arm of Adani Group, reported a rise in its consolidated net profit with a surge in its revenue from operations.

The company posted a 20.74% increase in year-on-year net profit at Rs 97.91 crore in the fourth quarter, according to an exchange filing on Tuesday.

Adani Total Gas Q4 FY23 Highlights (Consolidated, YoY)

• Revenue from operations rose 10.15% to Rs 1,114.78 crore.

• Ebitda during the period increased 48.83% to Rs 195.17 crore.

• Ebitda margin stood at 17.51% as compared with 12.96% in the year-ago period.

• Net profit increased 20.74% to Rs 97.91 crore during the quarter under review.

Overall sales volume for the quarter under review increased 2.11% on annual basis to 193 MMSCM. CNG sales increased 21% to 121 MMSCM during the period, whereas PNG sales dipped 19% to 72 MMSCM.

The city gas distributor reported a 44% year-on-year rise in revenue for the fiscal 2023 at Rs 4,378.19 crore and a rise of 7.28% in net profit for Rs 546.49 crore.

Ebitda, or operating profit, for the full fiscal jumped 12.53% on-year to Rs 869.87 crore. Margins for the full year stood at 19.87%, compared to 25.45% a year ago.

Road Ahead

"The fast-track development of steel pipelines and CNG stations has helped in creating a natural gas ecosystem in geographical areas where we are present and will now help in connecting PNG consumers going forward," said Suresh P Manglani, executive director and chief executive officer at Adani Total Gas.

"To provide wider energy offerings to consumers, ATGL, through its SPV has forayed into e-mobility and biogas. These SPVs, in the next 12-18 months, will create over 3,000 EV charging points and build one of India's largest biogas plant in Uttar Pradesh," he said

Board Declares Dividend

The board of Adani Total declared a dividend of Rs 0.25 per share for the financial year 2023, subject to shareholder approval.

The company said it will inform shareholders in due course of the date on which it will hold the AGM for the year ended March 2023 and the date from which dividends will be paid or warrants thereof will be dispatched to shareholders.

Shares of Adani Total Gas gained 1.29% to trade at Rs 956.85 apiece at the close on Tuesday, as compared with a 0.4% rally in the benchmark BSE Sensex, which closed at 61,354.71.

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