Adani Total Gas Q1 Results: Overall Volume Rises By 17%, CNG network Increases To 559 Stations

Adani Total Gas Ltd (ATGL), one of India’s leading City Gas Distribution (CGD) firm, on Monday announced its operational and financial performance for the quarter ended June 30, 2024. The company said CNG sales were up 20 per cent at 153 million standard cubic meters in April-June, the first quarter of the current 2024-25 fiscal year.

Sales of cooking gas piped to households was up 11 per cent at 77 mmscm. EBITDA was up 21 per cent at Rs 308 crore year-on-year.

Overall volume was up by 17 per cent year-on-year to 230 mmscm, the statement said, adding CNG network increased to 559 stations after adding 12 CNG stations, while piped natural gas households increased to 8.58 lakh homes, with the addition of 38,165 new homes.

The firm added 740 EV charging stations to take the total strength to 1,212 EV charging points spread across 15 states.

Standalone Operational and Financial Highlights:

“It has been a good start for FY25 as ATGL delivered a robust operational and financial performance by achieving a 21 per cent YoY EBITDA growth on the back of 17 per cent volume growth,” said Suresh P Manglani, ED and CEO of Adani Total Gas.

“During the quarter, ATGL received approval from regulator for the transfer of Letter of Authorization for Jalandhar Geographical Area (GA) which provides high volume growth opportunity to the Company. We have also crossed a significant milestone of 1000+ EV charging points, reaching 1212 EV charging points across multiple locations. We continue to see more traction on natural gas as we further build CGD infrastructure and penetrate deeper across multiple GAs. With newer sustainable energy in form of E-mobilty, LNG and Biomass, we remain fully committed to provide a sustainable energy platform to our consumers and playing a leading role in the country’s energy transition journey,” he added.