Adani Total Gas records 17% surge in gas sales in Q2 FY22
OIL & GAS

Adani Total Gas records 17% surge in gas sales in Q2 FY22

Adani Total Gas Limited has recorded a 17% rise in the September quarter net profit on the back of a surge in gas sales volumes.

Net profit in July-September at Rs 159 crore as against Rs 136 crore profit in the corresponding period last year, the firm said in a statement.

With economic activity picking up after the Covid-19 pandemic, CNG sales surged 54% to 91 million cubic meters in Q2 FY22.

Piped gas supplies grew 17% to 84 mmscmd.

Combined CNG and piped natural gas volume increased by 33% t at 175 mmscm. The company exited the quarter with a sale volume of 2.09 million standard cubic meters per day, as against 1.79 mmscmd at the end of the first quarter.

Revenue from operations was increased by 56% at Rs 687 crore.

The firm said that it launched 20 new CNG dispensing stations, taking the total network strength to 244. It added 18,659 new connections to assist cross the 5 lakh target for piped natural gas connections.

Commenting on the result, Gautam Adani, Chairman, Adani Group, told the media that he has very little doubt that gas would continue to play a significantly important role in India's energy mix. The ability to distribute gas across the country is a significant advantage that the Adani Group and TotalEnergies will bring to the people.

ATGL implemented, during the quarter, a joint venture deal with 50% shareholding for installing a manufacturing plant for mechanical and smart gas meters under the Atmanirbhar Bharat initiative.

Additionally, ATGL also has inked a definitive agreement for exclusive collaboration for installing a bio-conversion plant in Barsana having India's largest cow shelter with around 60,000 cows in a single location, said Adani.

Image Source


  Also read: SC dismisses Adani Gas’ plea against awarding of CGD to Gujarat Gas

Adani Total Gas Limited has recorded a 17% rise in the September quarter net profit on the back of a surge in gas sales volumes. Net profit in July-September at Rs 159 crore as against Rs 136 crore profit in the corresponding period last year, the firm said in a statement. With economic activity picking up after the Covid-19 pandemic, CNG sales surged 54% to 91 million cubic meters in Q2 FY22. Piped gas supplies grew 17% to 84 mmscmd. Combined CNG and piped natural gas volume increased by 33% t at 175 mmscm. The company exited the quarter with a sale volume of 2.09 million standard cubic meters per day, as against 1.79 mmscmd at the end of the first quarter. Revenue from operations was increased by 56% at Rs 687 crore. The firm said that it launched 20 new CNG dispensing stations, taking the total network strength to 244. It added 18,659 new connections to assist cross the 5 lakh target for piped natural gas connections. Commenting on the result, Gautam Adani, Chairman, Adani Group, told the media that he has very little doubt that gas would continue to play a significantly important role in India's energy mix. The ability to distribute gas across the country is a significant advantage that the Adani Group and TotalEnergies will bring to the people. ATGL implemented, during the quarter, a joint venture deal with 50% shareholding for installing a manufacturing plant for mechanical and smart gas meters under the Atmanirbhar Bharat initiative. Additionally, ATGL also has inked a definitive agreement for exclusive collaboration for installing a bio-conversion plant in Barsana having India's largest cow shelter with around 60,000 cows in a single location, said Adani. Image Source  Also read: SC dismisses Adani Gas’ plea against awarding of CGD to Gujarat Gas

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?