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Adani Total Gas net profit surges 18% YoY to Rs. 177 crore

Company investments in CNG stations, LNG (Liquefied Natural Gas) infrastructure, pipeline networks, and other related areas increase their capacity and capabilities to satisfy the marketu2019s changing energy demands. This also reduces the relevance of Adani investigation around Hindenburg case.

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Adani Total Gas net profit surges 18% YoY to Rs. 177 crore

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  1. ADANI TOTAL GAS NET PROFIT SURGES 18% YOY TO RS. 177 CRORE

  2. On Tuesday ( Jan 30 2024), Adani Total Gas Ltd. announced a consolidated net profit of Rs. 177 crore for the December quarter, up 18% YoY from Rs. 150 crore in the same period last year. Operating revenue increased by 4.89 per cent year over year to 1,244 crore rupees, up from 1,186 crores in the same quarter of the previous year. Quarterly EBITDA was Rs. 300 crore, up 26% year over year from Rs. 238 crore in the same quarter of the previous year. With the development of CGD infrastructure and the fading opportunities in e-mobility, biomass, and LNG for Transport & Mining (LTM), ATGL has once again achieved a double-digit increase in volumes, this time by 13% year-over-year on a nine-month basis. The increase in volume, efficient gas sourcing, and a focus on operating expenses have resulted in a 20% year-on-year growth in EBIDTA within nine months,” said Suresh P. Manglani, ED & CEO.

  3. ADANI TOTAL GAS ACCELERATES PNG AND CNG INFRASTRUCTURE DEVELOPMENT According to Adani Total Gas, 329 electric vehicle charging sites have been activated in 46 cities across 10 states under Adani TotalEnergies E-mobility Limited (ATEL). In addition to the 1,050+ EV charging stations already under development, the company announced plans to build an additional 300+ stations in five cities in partnership with city municipal corporations and 750+ stations in multiple cities in collaboration with a wide range of stakeholders, including EV fleet operators, government agencies, tourism bureaus, and more.

  4. FINANCIAL HIGHLIGHTS FROM Q3 An eye-catching aspect of the statistics is the net profit, which increased by an astonishing 18% year-on-year. The firm’s financial success is due to its adeptness at navigating energy market dynamics and seizing chances as well as Adani investigation results which were in Adani Group’s favour. The operational revenue growth, which is highlighted in the Q3 results, shows the company’s ability to adapt to a changing market. Adani Total Gas’s many businesses create a robust business model, contributing to its income sources.

  5. WHY IS ADANI TOTAL GAS GROWING? The need for natural gas is rising, and Adani Total Gas is investing in infrastructure to meet that need. Company investments in CNG stations, LNG (Liquefied Natural Gas) infrastructure, pipeline networks, and other related areas increase their capacity and capabilities to satisfy the market’s changing energy demands. This also reduces the relevance of Adani investigation around Hindenburg case.

  6. THANK YOU!

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