Adani Total Gas Ltd.'s profit increased 8% sequentially in the second quarter of fiscal 2025.
The Adani-owned city gas distribution company's net profit rose to Rs 186 crore in the quarter-ended September, as compared with Rs 172 crore over the previous quarter, according to an exchange filing on Thursday.
ATGL Q2 FY25 Earnings Highlights (Consolidated, QoQ)
Revenue up 6% to Rs 1,219 crore versus Rs 1,146 crore.
Ebitda rose 3% to Rs 306 crore versus Rs 297 crore.
Margin at 25.1% vs 25.9%.
Net profit up 8% to Rs 186 crore versus Rs 172 crore.
The company's revenue saw growth due to higher volume and sales realisations, while its Ebitda rose due to volume growth, which saw an increase due to infrastructure expansion and operational efficiency.
Sales Volume
Adani Total Gas' growth this quarter was mainly driven by an uptick in total sales volumes, which grew 15% year on year to 242 million metric standard cubic meters of gas. Growth was mainly driven by the 19% volume growth in CNG sales and a 7% annual uptick in PNG sales. As per the company, the growth in PNG sales is on the back of an increase in consumption of PNG industrial volume and additions of new PNG connections in domestic and commercial segments.
As per the CEO and ED of the company, Suresh Manglani, the company is closely monitoring its gas sourcing portfolio post the government's latest move to reduce APM gas allocation to the city gas distribution sector, which mainly caters to the auto CNG and home PNG consumers. Manglani states that the company is ensuring "a calibrated pricing approach to balance the interest of its consumers."
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