Adani Total Gas Q2FY25 results: Net profit rises 7% to Rs 185 crore

Adani Total Gas (ATGL) reported a seven per cent rise in its consolidated net profit (attributable to the owners of the company) in the quarter ended September 2024 (Q2 FY25), on the back of improved operational performance.

 

In its results commentary, the company noted that, with effect from October 16, there has been a 16 per cent reduction in the allocation of APM gas compared to the earlier allocation. “While such lower allocation could impact profitability going forward, ATGL is closely examining the situation and will calibrate its retail prices to mitigate the impact and will explore opportunities to seek competitive gas to ensure uninterrupted supply,” the company said.

 

In the quarter under review, ATGL reported a net profit of Rs 185.6 crore, up 7 per cent from a year ago. During the same period, the city gas distributor’s revenue from operations rose 12 per cent to Rs 1,318.7 crore.

 

In its press statement, ATGL said the rise in revenue was on account of higher volume and sales realisation. Volumes for the reported quarter were up 15 per cent from a year ago.

 

Sequentially, ATGL’s profit rose eight per cent, while revenue increased six per cent.

 

ATGL added, “Despite higher volume, the cost of natural gas rose by 12 per cent due to a balanced gas portfolio across multiple indices.”

 

Suresh P Manglani, chief executive officer and executive director of ATGL, said, “Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation. Given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to protect our consumers’ interests.”

 

In the past three-month period, ATGL said it had commissioned its first LNG retail station for transport vehicles. ATGL noted an eight per cent rise in its standalone Ebitda to Rs 313 crore from a year ago. Ebitda is earnings before interest, taxation, depreciation, and amortisation.