Adani Total Gas Reports Strong Profits For Seventh Consecutive Quarter

Adani Total Gas Limited (ATGL), part of Indian industrialist Gautam Adani’s business empire, has announced a 7.5% increase in its consolidated profit for the quarter ending September 30, reaching ₹1.87 billion ($22.24 million). This marks the company’s seventh consecutive quarter of profit growth, a significant development for stakeholders involved with ATGL.

As a key player in India’s energy sector, ATGL is expanding its operations from ports to electricity while fulfilling the rising demand for compressed natural gas (CNG). With the Indian government prioritizing pollution reduction and promoting clean energy, CNG consumption is on the rise across the country.

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The Government of India has set an ambitious target to establish 20,000 CNG stations by 2030. The current demand is fueled by millions of CNG consumers, with ATGL reporting significant gains from its CNG sales amidst the government’s initiatives to promote gas-based vehicles.

In the latest quarter, ATGL’s CNG sales volume, which constitutes 67% of its total sales, surged by 20%, aided by the addition of 18 new stations, bringing the total to 577 CNG stations nationwide. The company also reported a 9% increase in sales volume for its piped natural gas (PNG) segment, amounting to 157 million standard cubic meters of gas per day.

The company’s total income from operations rose to ₹13.18 billion, up from ₹11.79 billion a year earlier.

Key Highlights from Adani Total Gas’s Q2 FY25 Financial Results:
1. Q2 FY25 sales volumes increased by 15% year-on-year.
2. Expansion of the CNG network to 577 stations.
3. PNG household connections grew to 893,000.
4. 1,486 EV charging points established across 21 states.
5. Launch of the first LNG retail station for transport vehicles.
6. Q2 FY25 EBITDA stood at ₹313 crore.