Adani Total Gas Q2 FY22 PAT spurts 18% to Rs 158 cr

On a consolidated basis, Adani Total Gas' net profit jumped 17.72% to Rs 158.12 crore on a 55.68% surge in revenue from operations to Rs 686.80 crore in Q2 September 2021 over Q2 September 2020.

On a standalone basis, sales volume grew 33% to 175 MMSCM (Million Metric Standard Cubic Meter) in Q2 September 2021 as compared to 131 MMSCM in Q2 September 2020. CNG sales climbed 54% to 91 MMSCM in Q2 FY22 as against 59 MMSCM in Q2 FY21. PNG sales galloped 17% to 84 MMSCM in Q2 September 2021 from 72 MMSCM in Q2 September 2020.

Adani Total Gas commissioned 20 new stations, taking the total CNG station count to 244. Adani Total Gas added 18,659 new PNG Home Connections, taking the total to 5.06 lakh. The Industrial & Commercial connection increased to 5,264 with 199 new Industrial and Commercial connection in Q2 FY22. The company completed 3,535 inch km of steel pipeline in New Gas allotted in 9th and 10th round. Combined Exit Volume increased to 2.09 MMSCMD (Million Metric Standard Cubic Meter per Day) in Q2 FY22 from 1.79 MMSCMD in Q1 FY22, recording a growth of 17% Y-o-Y (year-on-year).

Gautam Adani, the chairman of Adani Group, said, "I have very little doubt that gas will continue to play an increasingly important role in India's energy mix. The ability to distribute gas across the nation is an essential benefit that the Adani Group and Total Energies will bring to the people. I'm excited about the possibilities as we move deeper and deeper into all the different Tier II and Tier III cities and provide them a cleaner fuel. Gas is also a fuel that can have a significant impact on how rural India will live in the future. We are committed to becoming a leader in this sector."

Meanwhile, the board of Adani Total Gas on Thursday, 28 October 2021 approved the establishment of a Medium Term Note Programme (MTN Programme). The proceeds raised from the MTN Programme will be utilized by the company for permissible end use(s) in accordance with the applicable laws. The securities under the MTN Programme will be issued in one or more tranches/ series on private placement basis or otherwise, to any persons, entities, bodies corporate, companies, banks, funds, financial institutions and any other categories of eligible investors permitted to invest in the MTN under applicable laws. The total amount to be raised through the MTN Programme shall not exceed $750 million or its equivalent in any currency(ies) with an initial issuance of up to $300 million.

Shares of Adani Total Gas declined 2.96% to Rs 1,365.10 on BSE. Adani Total Gas is one of India's leading private players in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to Industrial, Commercial, Domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector.

Powered by Capital Market - Live News