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Adani Total Gas Q4 PAT rises 19% to Rs 145 cr

Capital Market 

Adani Total Gas' consolidated net profit jumped 18.6% to Rs 144.82 crore on 26.4% surge in net sales to Rs 584.48 crore in Q4 FY21 over Q4 FY20.

On a standalone basis, the combined volume of CNG and PNG stood at 166 MMSCM (Million Metric Standard Cubic Meter) in Q4 FY21 as against 145 MMSCM in Q4 FY20, registering a growth of 14.48% Y-o-Y (year-on-year).

The average volume in Q4 FY21 increased to 1.85 MMSCMD (Million Metric Standard Cubic Meter Per Day) as compared to average volume of 1.67 MMSCMD in Q3 FY21, showing recovery of 11% on Q-o-Q (quarter-on-quarter) basis.

CNG stations increased to 217 in FY21 alone with 102 new CNG stations commissioned. PNG Home Connection increased to 4.78 lakh (40,939 new connections added in FY21). Industrial & Comm. connection increased to 4,966 (500 new Ind and Comm added in FY 21). The firm completed 2,215 inch km of steel pipeline in New GA allotted in 9th and 10th round.

Commenting on the Q4 result, Gautam Adani, the chairman of Adani Group, said: "These outstanding results are a testament to the excellent synergy between Adani and Total. Our combined strengths will significantly contribute towards the creation of a gas-based economy. We are committed to ushering in this cleaner fuel across the nation in line with our vision to build a sustainable."

Suresh P Manglani, the chief executive officer (CEO) of Adani Total Gas, stated: "With pandemic onslaught, it's been a challenging year for the nation and CGD industry too. The key thrust of the ATGL has been to continue to supply PNG and CNG, and safely handle all operations and emergencies 24*7. I am pleased to see that Team ATGL stood together and despite pandemic has delivered all round superior performance for the Quarter 4 and Financial year 2021. This is the third successive quarter of highest ever financial performance with robust physical infrastructure growth despite ongoing pandemic. We all at ATGL are standing with our consumers, community at large and nation to extend our full support to overcome the challenges of Covid 19. We are consistently encouraging society to adopt PNG and convert their vehicles to environmental-friendly CNG to contribute in reduction of carbon footprints."

The board has recommended dividend of Re 0.25 per equity share of face value of Re 1 each fully paid up for the FY 2020-21, subject to approval by shareholders of the company.

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.

Shares of Adani Total Gas fell 0.28% to Rs 1,248.95 on BSE. The stock has traded in the range of Rs 1,237 to Rs 1,299 so far.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, May 05 2021. 10:38 IST