Adani Total Gas Limited (ATGL) has reported a 15% year-on-year increase in gas sales volume for Q3FY25, despite facing challenges from reduced gas allocations. The company’s quarterly revenue grew by 12% to ₹1,397 crore, although the net profit declined by 17% to ₹143 crore due to higher gas costs and increased depreciation.
ATGL shares were trading at ₹623.40, down by ₹18.10 or 2.82% on the NSE at 2.45 pm today.
The company’s administered price mechanism (APM) gas allocation for CNG transport was reduced from 63% to 37% between October and November 2024, but was recently increased to 51% in January 2025. ATGL managed to bridge the supply gap through alternative sources, including new well gas and spot market purchases.
In the quarter, ATGL expanded its CNG network to 605 stations by adding 28 new stations and increased its PNG household connections to 922,677 by connecting 28,677 new homes. The company also made progress in its electric vehicle charging business, with 1,914 operational charging points across 226 cities in 22 states and 4 union territories.
ATGL’s EBITDA for Q3FY25 stood at ₹272 crore, down 10% year-on-year, mainly impacted by higher gas costs as the company had to source more expensive alternatives to APM gas. For the nine-month period ending December 2024, ATGL’s revenue increased by 11% to ₹3,950 crore, with a 2% growth in profit after tax at ₹499 crore.
Published on January 27, 2025.
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