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After Adani Total Gas Ltd (ATGL) delivered strong operational performance in the second quarter of financial year 2025, Suresh P Manglani, CEO and Executive Director of ATGL, highlighted the company's progress during the quarter.
Manglani stated, "This double increase is on account of our network expansion coupled with an increase in consumption of natural gas by commercial and industrial consumers due to the stabilization of gas prices." He said that the company continued its focus on expanding its compressed natural gas (CNG) distribution network including company-owned-dealer-operated (CODO) and dealer-owned-dealer-operated (DODO) stations. Manglani further noted that the company, along with its joint venture partner IOAGPL, is nearing 1,000 CNG stations across India. In addition to CNG, the company has expanded its piped natural gas (PNG) network, as per Manglani. "As you all are aware that we have a subsidiary to pursue EV business and CBG business on our EV business site, our network of charging points have now reached to 1486 charging stations, charging point stations across 21 states and 213 cities. We are progressing well on our plan to take the figure to over 3,000 charge points very soon in the future, focusing on setting up this infrastructure at key strategic locations like airports, highways, usports and places across major cities," he added. ATGL continues to leverage digital technology to enhance consumer engagement and operational efficiency. Manglani noted that 98 per cent of consumer collection and engagement is now handled through the My AdaniGas app, which is integrated with the company's digital platform, SOUL. He further added that the company has initiated its hydrogen blending program in Ahmedabad, supplying blended PNG consumers. During the quarter, ATGL raised USD 375 million in the largest global financing program for a city gas distribution company in India. "We plan to utilise this fund to accelerate our network infrastructure development program," Manglani said, reflecting the company's ambition to expand its energy network. Adani Total Gas (ATGL), India's leading energy transition company, announced its operational, infrastructural, and financial performance for the quarter and half year that ended September 30. The company reported 7.5 percent increase in consolidated net profit at Rs 187 crore for the quarter ended September 30 2024, verses a net profit of Rs 173 crore in the year-ago period. Revenue from operations was up 12 per cent to Rs 1,318 crore in Q2 FY25 as compared to Rs 1,179 crore in the same quarter in FY24. EBITDA (earnings before interest, tax, depreciation and amortisation) in second quarter was at Rs 313 crore, up 8 percent year-on-year. (ANI)
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