Adani Total Gas reported a 21% increase in Q4 overall net profit to Rs 98 crore on May 2. In the previous fiscal year, the company's net profit was Rs 81 crore. The company's revenue from operations was Rs 1,114.8 crore, up by 10.2% from Rs 1,012 crore in Q4 FY22. EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 49% year on year to Rs 195.2 crore, with margins increasing to 17.5 percent from 13 percent in the March 2022 quarter.
"We appreciate the Government of India's decision to approve the ceiling and floor price for domestic gas, which makes sure price stability." Furthermore, ATGL passed on the benefit to end users'', Adani Total Gas executive director and CEO Suresh P Manglani said.
"We are sure that this, coupled with the reduction of R-LNG prices, will drive higher demand across both the PNG and CNG segments," he said.
According to a statement from the corporation, CNG volume has climbed by 28% year on year due to the growth of CNG stations. PNG volume, on the other hand, fell by 13% year on year due to lower petrol consumption, mainly by commercial consumers, as result of higher PNG pricing.
