Surat : Adani Total Gas Limited (“ATGL”), one of India’s leading private companies in the gas utility sector in India recorded 153% increase in its revenue from operations and 151% increase in the EBITDA in the first quarter ended June 30.
Commenting on the quarter result of the company, Gautam Adani, Chairman, Adani Group said, “The intent of both the Adani Group and TotalEnergies is to rapidly establish an energy portfolio that continues to get greener – and gas is a critical component of this mix.”
Adani added, “ATGL’s strong performance is yet again a manifestation of this intent and we are strongly positioned to continue to significantly expand our CGD networks across all geographical areas. We realize that the on-ground situation has been challenging and, in this context, I am proud of the resilience demonstrated by our frontline employees. Each of them truly represents our joint belief in nation building.”
Moreover, the company has increased its network of CNG stations to 224 with commissioning of seven new stations. Also, the PNG home connections increased to 4.88 lakh with the addition of 9,223 new connections.
The industrial and commercial connection increased to 5,065 with the addition of 99 new industrial and commercial connection. The combined CNG and PNG volume of 140 MMSCM registered a rise of 110%.
Suresh P Manglani, CEO of Adani Total Gas said, “Despite the severe onslaught of the Covid-19 pandemic across India, ATGL has delivered an excellent performance for Q1FY22 on all fronts – by its volume growth, infrastructure growth, financial results and by safely running operations on a 24×7 basis.”
Manglani added, “This testifies to our strong foundations and continued growth, which are helping us to provide PNG to every home and to commercial and industrial consumers, and CNG to large masses of transport consumers. Besides growing core business, ATGL is now focusing on adopting and implementing strong ESG practices. Our long-term strategy is aligned with global best practices in the realm of sustainability while providing unhindered service to our consumers and creating value for all our stakeholders.”