Adani Total Gas Ltd (ATGL), one of India’s leading energy transition companies, has announced a 7.5% rise in its consolidated net profit for the second quarter of FY25, posting Rs 187 crore compared to Rs 173 crore in the same period last year. The company’s financial and operational performance for the quarter ending September 30, 2024, showed strong growth across key metrics.
ATGL’s revenue from operations grew 12%, reaching Rs 1,318 crore in Q2FY25 compared to Rs 1,179 crore in Q2FY24. The company’s EBITDA (earnings before interest, tax, depreciation, and amortization) also rose by 8% year-on-year to Rs 313 crore. Total sales volume increased by 15% YoY to 242 MMT, with compressed natural gas (CNG) volumes at 162 MMT and piped natural gas (PNG) volumes at 80 MMT.
During the quarter, ATGL added 18 new CNG stations, bringing its total to 577. The company also commissioned its first liquefied natural gas (LNG) retail outlet in Tiruppur, with two more under construction in Dahej and Mundra.
Suresh P. Manglani, CEO and Executive Director of ATGL, highlighted the company’s ongoing expansion, stating, “We now reach over 9 lakh consumers through our piped gas network, supplying uninterrupted piped natural gas. We have also commissioned our first LNG station for the transportation segment and are progressing towards covering key highway networks, aiding India’s decarbonization march.”
On October 17, the government announced a 20% reduction in the allocation of administered price mechanism (APM) gas for compressed natural gas (CNG), impacting the city gas distribution sector. Manglani noted that ATGL is monitoring the situation closely and will adopt a “calibrated pricing approach” to ensure consumer interests are balanced, thanks to the company’s diversified gas sourcing portfolio.
Adani TotalEnergies E-Mobility Limited has made significant strides, commissioning 1,486 EV charging points across 213 cities. ATGL, authorized in 34 geographical areas, continues to play a critical role in increasing the share of natural gas in India’s energy mix. The company has formed two wholly owned subsidiaries—Adani TotalEnergies E-Mobility Ltd (ATEL) for e-mobility and Adani TotalEnergies Biomass Ltd (ATBL) for biomass-related businesses. Additionally, ATGL has entered a 50:50 joint venture, Smart Meter Technologies Private Limited, to manufacture gas meters.
With continued expansion and strategic initiatives, ATGL is well-positioned to contribute to India’s energy transition and sustainability goals.
