Adani Total Gas Q4 Results: Net profit rises 71% to ₹168 crore; EBITDA up 47% YoY
Adani Total Gas Q4 Results: Adani Total Gas announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Tuesday, April 30, reporting a surge of 71.6 per cent to ₹168 crore, compared to ₹98 crore in the corresponding period last year. The leading city gas distributer’s (CGD) revenue from operations in the fourth quarter of fiscal 2023-24 rose 4.7 per cent to ₹1,167 crore compared to ₹1,114.8 crore in the year-ago period.
On the operating performance, Adani Total Gas’s earnings before interest, taxes, depreciation, and amortization (EBITDA) during the March quarter rose 47.6 per cent to ₹299 crore, compared to ₹195.2 crore in the year-ago period. The margin rose to 24.7 per cent compared to 17.5 per cent year-on-year (YoY).
The total FY24 net profit rose 22 per cent to ₹668 crore. “FY24 has been a transformative year. We delivered a robust operational and financial performance and achieved a 27 per cent YoY EBITDA growth on the back of 15 per cent volume growth,” said Suresh P Manglani, ED & CEO of Adani Total Gas.
We are incubating new business opportunities in the areas of compressed biogas, EV charging infrastructure, and LNG for trucking and Mining (LTM). During the quarter, we commissioned the 1st phase of one of the India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura and also expanded our e-mobility footprint to 23 states,” said Manglani. These, along with LTM are the next big growth drivers for the CGD, according to the CEO.
