Adani Total Gas clocks 7 pc jump in net profit at Rs 186 crore in Q2, revenue up 12 pc

Ahmedabad: Adani Total Gas Ltd (ATGL) on Thursday reported a seven per cent increase in consolidated net profit (year-on-year) at Rs 186 crore in Q2 FY25, while operational revenue saw a 12 per cent jump, reaching Rs 1,315 crore.

EBITDA rose by 8 per cent to Rs 313 crore in the July-September period, as standalone net profit (PAT) increased by 6 per cent, reaching Rs 178 crore.

For the first six months of this fiscal (H1 FY25), the consolidated net profit stood at Rs 357 crore, up by 11 per cent YoY.

The Adani Group company said the volume surged 15 per cent (YoY) in Q2 FY25, while the CNG network increased to 577 and PNG households increased to 8.93 lakh homes in the quarter (adding 34,468 new households).

"ATGL has reported healthy operational and financial performance during the quarter. Our business is closely aligned with India’s energy transition goals which we are delivering by providing cleaner and greener energy solutions to all our consumers," ATGL CEO and ED Suresh P. Manglani said.

"We now reach over 9 lakh consumers through our piped gas network supplying uninterrupted piped natural gas. We have commissioned our first LNG station for the transportation segment and are progressing towards covering key highway networks aiding India’s decarbonisation march," he added.

The company saw industrial and commercial connections reach 8,746 with 204 new consumers in the quarter.

With the joint venture IndianOil-Adani Gas Pvt Ltd (IOAGPL), the combined network of CNG stations stands at 958, with 31 new stations added in the quarter.

According to the company, PNG home connections have crossed the 1-million mark to 1.06 million, touching over 4 million lives on a daily basis.

"Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation and given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers," said Manglani.

In September, ATGL secured the largest global financing in India’s city gas distribution business of $375 million to accelerate the network infrastructure development programme. Adani TotalEnergies E-mobility Ltd (ATEL) now has 1,486 EV charging points commissioned across 213 cities, the company said.