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HomeNewsBusinessEarningsAdani Total Gas Q4 net profit jumps 21% to Rs 98 crore, revenue up 10%

Adani Total Gas Q4 net profit jumps 21% to Rs 98 crore, revenue up 10%

On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) gained 49 percent YoY to Rs 195.2 crore and margins improved to 17.5 percent from 13 percent in March 2022 quarter

May 02, 2023 / 15:26 IST
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    Adani Total Gas on May 2 reported a 21 percent rise in Q4 consolidated net profit at Rs 98 crore. The company's net profit stood at Rs 81 crore in the year-ago period.

    Revenue from operations for the company came in at Rs 1,114.8 crore, up 10.2 percent from Rs 1,012 crore in Q4 FY22. On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) gained 49 percent YoY to Rs 195.2 crore and margins improved to 17.5 percent from 13 percent in March 2022 quarter.

    “We appreciate 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," Suresh P Manglani, executive director and CEO of Adani Total Gas, said.

    "We are confident that this, coupled with the softening of R-LNG prices, will drive increased demand across both PNG and CNG segments," he added.

    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.

    "To provide wider energy offerings to consumers, Adani Total Gas, through its special purpose vehicles have forayed into e-mobility. Theses SPVs, in next 12-18 months will be creating over 3000 EV charging points and build one of the India’s largest Biogas plant in Uttar Pradesh, whose work is in full swing," Manglani added.

    The company's debt-to-equity ratio stands at 0.47x and net debt to EBITDA is at 1.11x. At 3 pm, the stock was quoting at Rs 960.15 on the NSE, higher by 1.6 percent. It is down 72 percent in 2023 so far.

    Moneycontrol News
    first published: May 2, 2023 03:04 pm

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