Ahmedabad (Gujarat) [India], July 21 (ANI): Adani Total Gas Limited (ATGL) on Tuesday reported a 27 per cent year-on-year increase in revenue to Rs 1,910 crore in the first quarter of FY27, supported by a 13 per cent growth in combined CNG and PNG sales volume.
The company in an official statement, said its combined CNG and PNG sales volume rose to 303 MMSCM during the April-June quarter from 267 MMSCM in the corresponding period last year. CNG sales increased 18 per cent year-on-year to 218 MMSCM, while PNG sales grew 4 per cent to 85 MMSCM.
ATGL said the growth was driven by strong operational performance and increasing consumer preference for cleaner fuels.
During the quarter, the company expanded its CNG network by adding five new stations, taking the total number of CNG stations to 707. It also added 38,243 new domestic PNG connections, taking the total number of household connections to 11,41,108.
The company further expanded its industrial and commercial customer base by adding 448 new customers during the quarter, taking the total number of industrial and commercial connections to 10,422. Its cumulative steel pipeline network reached 15,987 inch-km.
On a pan-India basis, including its joint venture Indian Oil-Adani Gas Private Limited (IOAGPL), the combined CNG and PNG sales volume increased 13 per cent year-on-year to 496 MMSCM.
The combined network expanded to 1,167 CNG stations. The industrial and commercial customer base increased to 12,326, and the cumulative steel pipeline network reached 28,675 inch-km.
The company said the operating environment remained challenging during the quarter due to the impact of the West Asia crisis, which led to higher Brent-linked gas prices. It said the increase in the APM gas price ceiling, along with currency depreciation, pushed gas purchase costs higher, resulting in a 39 per cent year-on-year increase in the cost of natural gas.
Despite these challenges, the company said it adopted a calibrated approach to ensure uninterrupted gas supply to priority segments while maintaining operational excellence.
ATGL reported EBITDA of Rs 281 crore and profit after tax of Rs 133 crore during the quarter. On a consolidated basis, EBITDA stood at Rs 293 crore, while profit after tax came in at Rs 142 crore.
The company also continued to expand its clean mobility business. Adani TotalEnergies E-Mobility Limited increased its network to 5,306 EV charge points across 26 states and Union Territories and 226 cities, with an installed capacity of around 58 MW.
“ATGL yet again, delivered robust growth in volumes up by 13 per cent YoY and revenue up by 27 per cent during Q1 FY27, driven by strong operational performance, and increasing consumer preference for cleaner fuels. The operating environment remained dynamic, with elevated gas prices, higher Brent crude prices, compounded by currency volatility, and geopolitical developments negatively impacting global energy supplies. While these factors exerted pressure on gas sourcing strategy for CGD Industry, our focus remained ensuring supply continuity, enhancing operational efficiency, safeguarding CNG and PNG consumers from undue risks and creating long-term value for customers and stakeholders. We continue to focus on sustainable growth, through disciplined network expansion, digital enablement, and the development of our clean energy ecosystem across CNG, PNG, and e-mobility,” said Sanjay Pandita, CEO, ATGL.
The company also informed that rating agencies, CareEdge and CRISIL scored increased to 84 and 66 from 83 and 61, respectively; the score places ATGL among the best-performing companies within its peer group. (ANI)
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