Adani Total Gas (ATGL) has posted a 71.5% rise in net profit at Rs 167.96 crore for the quarter ended March, compared with Rs 97.91 crore posted during the year-ago quarter. The Adani group’s city gas distribution (CGD) company’s revenue from operations rose 5.1% to Rs 1,258.37 crore.
The firm’s EBITDA for the reporting quarter rose 49% to Rs 305 crore, it said in a statement.
“We are incubating new business opportunities in the areas of compressed biogas, EV charging infrastructure, and LNG for trucking and Mining (LTM). During the quarter, we commissioned the first phase of one of the India’s largest diversified feedstock-to-CBG plant at Barsana in Mathura and also expanded our e-mobility footprint to 23 states,” ATGL ED & CEO Suresh P Manglani said.
“These, along with LTM are our next big growth drivers and we are steadily executing a sustainable business plan around these neo-opportunities,” he added.
ATGL has already commissioned 606 EV charging points across 14 states, and an additional 1040 charging points are under various stages of construction. With these, the company’s EV network will be spread across 23 states and 217 cities, it added.