Adani Total Gas Q4 earnings: Net profit rises 21%; revenue climbs to Rs 1,197 crore
Adani Total Gas Q4 earnings: Net profit climbed 20.74% to Rs 97.91 crore in the January-March quarter compared to Rs 81.09 crore profit in the corresponding period a year ago.
- May 2, 2023,
- Updated May 2, 2023 3:50 PM IST
Adani Total Gas Ltd—the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households—on Thursday reported a 21 per cent increase in net profit for the quarter ended March.
Net profit climbed 20.74% to Rs 97.91 crore in the January-March quarter compared to Rs 81.09 crore profit in the corresponding period a year ago. Meanwhile, the stock was trading 1.68% higher at Rs 960.60 on BSE after the earnings announcement.
Revenue from operations rose 12.37% to Rs 1197.31 crore in Q4 from Rs 1065.48 crore in the year ago period. Revenue in the December quarter stood at Rs 1185 crore.
The Board of Adani Total recommended a dividend of Rs 0.25 (25%) per equity share of the face value of Re 1 each for the financial year 2022-23 subject to approval of the shareholders.
For the fiscal gone by, the Adani Group firm logged a rise of 46.06% in revenue to Rs 4683.39 crore against Rs 3206.36 crore in FY22. Net profit rose 7.28% to Rs 546.49 crore in FY23 against Rs 509.40 crore in FY22. Revenue rose 46% on account of higher volume coupled with increase in sales price.
Commenting on the performance of the last fiscal, the Adani Group firm said, "CNG volume has increased by 28% Y-o-Y on account of network expansion of CNG stations." However, PNG Volume fell 13% Y-o-Y due to lesser offtake of gas largely by industrial consumers owing to high PNG prices resulting from higher gas cost.
In other updates, the firm said 104 EV charging points have been commissioned at 26 locations across India. It also commissioned first Compressed Bio-Gas (CBG) station at Varanasi, Uttar Pradesh.
Suresh P Manglani, Executive Director & CEO of Adani Total Gas said, "ATGL has shown resilience and delivered a good all-round performance both on physical infrastructure and financial front despite high gas prices throughout the year. The fast-track development of steel pipeline and CNG stations has helped in creating natural gas ecosystem in geographical areas where we are present and will now help in connecting PNG consumers going forward."
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Adani Total Gas Ltd—the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households—on Thursday reported a 21 per cent increase in net profit for the quarter ended March.
Net profit climbed 20.74% to Rs 97.91 crore in the January-March quarter compared to Rs 81.09 crore profit in the corresponding period a year ago. Meanwhile, the stock was trading 1.68% higher at Rs 960.60 on BSE after the earnings announcement.
Revenue from operations rose 12.37% to Rs 1197.31 crore in Q4 from Rs 1065.48 crore in the year ago period. Revenue in the December quarter stood at Rs 1185 crore.
The Board of Adani Total recommended a dividend of Rs 0.25 (25%) per equity share of the face value of Re 1 each for the financial year 2022-23 subject to approval of the shareholders.
For the fiscal gone by, the Adani Group firm logged a rise of 46.06% in revenue to Rs 4683.39 crore against Rs 3206.36 crore in FY22. Net profit rose 7.28% to Rs 546.49 crore in FY23 against Rs 509.40 crore in FY22. Revenue rose 46% on account of higher volume coupled with increase in sales price.
Commenting on the performance of the last fiscal, the Adani Group firm said, "CNG volume has increased by 28% Y-o-Y on account of network expansion of CNG stations." However, PNG Volume fell 13% Y-o-Y due to lesser offtake of gas largely by industrial consumers owing to high PNG prices resulting from higher gas cost.
In other updates, the firm said 104 EV charging points have been commissioned at 26 locations across India. It also commissioned first Compressed Bio-Gas (CBG) station at Varanasi, Uttar Pradesh.
Suresh P Manglani, Executive Director & CEO of Adani Total Gas said, "ATGL has shown resilience and delivered a good all-round performance both on physical infrastructure and financial front despite high gas prices throughout the year. The fast-track development of steel pipeline and CNG stations has helped in creating natural gas ecosystem in geographical areas where we are present and will now help in connecting PNG consumers going forward."
Also read: Adani Power shares jump 26% in 8 consecutive sessions; time to buy, sell or hold?
Also read: Welspun India shares jump 20% amid positive news flow; did you miss the bus?