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Tuesday, December 06 2022
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ATGL operations revenue up 80%, now Rs 3,206 crore in FY22

ATGL operations revenue up 80 now Rs 3206 crore in FY22
Photo Credit : IANS

Ahmedabad: Adani Total Gas Ltd (ATGL), India’s leading city gas distribution company, on Wednesday announced its operational and financial performance for the fourth quarter and financial year ended March 31.

The financial highlights for FY22

ATGL’s revenue from operations increased by 80 per cent to Rs 3,206 crore with an EBITDA of Rs 815 crore, up by 9 per cent.

The company reported PBT (profit before tax) of Rs 679 crore, up by 8 per cent, PAT (profit after tax) at Rs 505 crore, up by 7 per cent and consolidated PAT at Rs 510 crore, up by 10 per cent.

Among the operational highlights for FY22, the company commissioned 117 new stations. Its number of CNG stations has now increased to 334.

ATGL’s footprint has increased to 550 CNG stations along with its JV, IOAGPL. It added 85,840 new connections, while its total PNG home connections surpassed 5.6 lakh mark.

Its industrial and commercial connections increased to 5,676 with 710 new connections.

The company completed 5,284 inch km of steel pipeline in new GAs allotted in 9th and 10th rounds. The company’s combined CNG and PNG volume stood at 697 MMSCM, an increase of 35 per cent.

The company board has approved formation of two SPVs for e-mobility and bio businesses. The board has recommended a dividend of 25 per cent of face value of Re 1 each, fully paid up for the FY 2021-22, subject to approval by the shareholders of the company.

Also, ATGL has set up its first EV charging station in Ahmedabad.

The company has also launched the MyAdaniGas App to provide increased convenience and digital touch-point to its consumers.

“In spite of challenging global circumstances with gas prices at an all-time high, local constraints on the supply of R-LNG and a shortfall in APM gas, Team ATGL has once again delivered a resilient performance both by adding 117 CNG stations and by generating our highest annual consolidated PAT of Rs 510 crore,” said Suresh P. Manglani, CEO of Adani Total Gas.

“The award of 14 new geographical areas expands ATGL’s coverage to 124 districts touching 14 per cent of the population. This will aid in taking the momentum further forward of building city gas distribution infrastructure on a pan-India basis and provide ATGL the opportunity to serve a larger consumer base in the coming years.

“Further, as part of a dedicated business strategy, the board has approved the formation of two separate SPVs for e-mobility and bio businesses. This will be immensely advantageous considering that ATGL and its promoters have a strong infrastructure and utility presence across India,” Manglani added.

Read more:

Adani says on track to be the world’s largest renewable generating company

IEX onboards 3rd strategic investor in gas exchange IGX

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