Adani total gas surges with 15 pc growth in FY24; adds 91 new CNG stations and 1.16 lakh PNG homes
Apr 30, 2024
Ahmedabad (Gujarat) [India], April 30 : Adani Total Gas has announced its FY24 and Q4 results, showcasing growth across various operational and financial metrics. The company's overall volume witnessed an uptick of 15 per cent in FY24 and 20 per cent in Q4 FY24, year-on-year (YoY).
In FY24, Adani Total Gas expanded its CNG network to 547 stations, inclusive of 108 Dealer Owned, Dealer Operated (DODO)/ Company Owned, Dealer Operated (CODO) stations, reflecting an addition of 91 new CNG stations.
The total number of PNG households increased to 8.20 lakh, with 1.16 lakh new households added to PNG. The company also saw growth in industrial and commercial connections, reaching 8,331, with 896 new consumers added.
The completion of approximately 12,023 Inch Km of Steel Pipeline contributed to the expansion of Adani Total Gas's infrastructure. The combined CNG and PNG volume reached 865 MMSCM, marking a substantial increase of 15 per cent YoY.
Adani Total Gas reported a robust financial performance for FY24. Revenue from operations stood at RS 4,813 Cr, with EBITDA at Rs 1,150 Cr, reflecting an impressive 27 per cent increase YoY.
The Profit After Tax (PAT) for FY24 reached RS 653 Cr, showing a notable growth of 23 per cent YoY.
In Q4FY24, the company continued its strong performance. Revenue from operations amounted to RS 1,257 Cr, with EBITDA at RS 305 Cr, marking a remarkable 49 per cent increase YoY. PAT for Q4FY24 stood at RS 165 Cr, demonstrating a substantial growth of 59 per cent YoY.
The consolidated PAT for FY24 reached RS 668 Cr, showcasing a solid growth of 22 per cent.
Adani Total Gas expanded its footprint across India in FY24 through its joint venture with IOAGPL. The CNG station network reached 903, with 170 new CNG stations added.
The total number of PNG households increased to 9.76 lakh, with 1.31 lakh new households added to PNG. Industrial and commercial connections also grew to 9,142, with 1,112 new consumers added.
Additionally, the company completed approximately 21,566 Inch Km of Steel Pipeline.
The successful commissioning of Barsana CBG plant Phase 1 and the presence of 606 EV charging points spread across 14 states further underscore Adani Total Gas's commitment to sustainable energy solutions and its contribution to India's energy transition.
