Adani Total Gas shares in focus after Q4 results, dividend announcement

Shares of Adani Total Gas will be in focus on Thursday after the Adani group firm reported a 71.6 per cent year-on-year (YoY) jump in the consolidated net profit at Rs 167.96 crore for the March quarter. The company's bottom line stood at Rs 97.91 crore in the year-ago quarter.

The Adani Group's city gas distribution firm reported its earnings for the quarter and financial year ended on March 31, 2024 on Tuesday, April 30. It said revenue from operations rose 5.1 per cent to Rs 1,258.37 crore in the March 2024 quarter against Rs 1197.31 crore in year ago period. Ebitda for the quarter came in at Rs 305 crore, up 49 per cent YoY.

Adani Total Gas Ltd reported a net profit of Rs 653 crore for the entire financial year 2023-24, up 23 per cent YoY. Revenue from operations grew 3 per cent to Rs 4,813 crore for the year. Ebitda came in at Rs 1,150 crore for the whole FY24, up 23 per cent YoY.

Shares of Adani Total Gas rose one per cent on Tuesday to settle at Rs 928.90 on BSE. The company commanded a total market capitalisation of Rs 1.02 lakh crore at the close of the session.

The board of directors recommended a dividend of Re 0.25 per equity share for the financial year 2023-24, subject to approval of shareholders of the company. The company has fixed Friday June 14, 2024 as the record date for the purpose of determining entitlement of the members of the company to receive dividend.

In the entire FY24, Adani Total Gas added new 170 CNG Stations, taking its network to 903 CNG Stations, while the total PNG home network saw an additional 1.31 lakh new households on PNG to 9.76 lakh PNG homes, said the company in its release. Industrial & Commercial connections increased to 9,142 and added 1,112 new consumers in the fiscal year.

CNG Volume increased by 21 per cent YoY on account of network expansion across multiple geographical areas. With recovery of PNG Industrial volume and addition of new PNG connections in domestic and commercial segments, PNG Volume has increased by 5 per cent YoY. Cost of Natural Gas dropped 6 per cent for the year.

A total of 606 EV charging points were commissioned by Adani Total Energies E-mobility across 14 states and 1040 additional EV charging points were under various stages of construction with EV fleets companies, Government Authorities, tourism departments and municipal corporations, said the company. "With these, the EV network will be spread across 23 states, 217 cities," it said.