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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code