Adani Total Gas Shows Strong Performance
Adani Total Gas (ATGL), a leading energy company in India, shared its financial results for the quarter ending September 30, 2024. The company saw a 7.5% increase in net profit, reaching Rs 187 crore compared to Rs 173 crore the previous year. Revenue rose by 12% to Rs 1,318 crore. The company’s EBITDA grew by 8% to Rs 313 crore.
Sales and Infrastructure Expansion
ATGL’s total sales volume increased by 15% to 242 MMT, with CNG volumes at 162 MMT and PNG volumes at 80 MMT. The company added 18 new CNG stations, bringing the total to 577, and opened its first LNG retail outlet in Tiruppur, with more under construction in Dahej and Mundra.
CEO’s Statement
Suresh P Manglani, CEO of ATGL, highlighted the company’s reach to over 9 lakh consumers through its piped gas network and its efforts in India’s decarbonization. He also addressed the government’s reduction in cheaper gas allocation, stating that ATGL will ensure a balanced pricing approach.
New Ventures and Joint Ventures
ATGL has launched 1,486 EV charging points across 213 cities and formed subsidiaries for E-Mobility and Biomass businesses. Additionally, it has a joint venture for gas meter manufacturing.
Doubts Revealed
Adani Total Gas -: Adani Total Gas is a company in India that provides natural gas services. It is part of the larger Adani Group, which is involved in various industries like energy, resources, and logistics.
Net profit -: Net profit is the amount of money a company earns after subtracting all its costs and expenses. It shows how much money the company actually made during a specific time period.
CNG stations -: CNG stations are places where vehicles can fill up with Compressed Natural Gas, a cleaner fuel alternative to petrol and diesel. CNG is used in many vehicles in India to reduce pollution.
LNG retail outlet -: An LNG retail outlet is a place where Liquefied Natural Gas is sold for use in vehicles or other purposes. LNG is natural gas that has been cooled down to liquid form for easier storage and transport.
CEO Suresh P Manglani -: Suresh P Manglani is the Chief Executive Officer of Adani Total Gas. The CEO is the person responsible for managing the company and making important decisions.
Government gas allocation changes -: Government gas allocation changes refer to how the government decides to distribute natural gas resources. These changes can affect how much gas companies like Adani Total Gas receive.
EV charging points -: EV charging points are places where electric vehicles can be charged. As more people use electric cars, these charging points are becoming more common.
E-Mobility -: E-Mobility refers to using electric-powered vehicles, like electric cars and bikes, instead of those that run on petrol or diesel. It is an important part of reducing pollution and saving energy.
Biomass -: Biomass is organic material, like plants and waste, that can be used to produce energy. It is a renewable energy source that helps reduce reliance on fossil fuels.
Joint venture -: A joint venture is a business arrangement where two or more companies work together on a specific project. They share resources, risks, and profits from the venture.
Gas meter manufacturing -: Gas meter manufacturing involves making devices that measure how much gas is used in homes or businesses. These meters help ensure accurate billing for gas consumption.