Adani Total Gas reports 15% volume growth amid supply changes
Adani Total Gas Limited (ATGL) reported a 15 per cent year-on-year increase in gas sales volume for Q3FY25, despite facing challenges from reduced gas allocations. The company’s quarterly revenue grew 12 per cent to ₹1,397 crore, though net profit declined 17 per cent to ₹143 crore due to higher gas costs and increased depreciation.
The shares of Adani Total Gas Limited (ATGL) were trading at ₹623.40 down by ₹18.10 or 2.82 per cent on the NSE today at 2.45 pm.
The company’s administered price mechanism (APM) gas allocation for CNG transport was reduced from 63 per cent to 37 per cent between October and November 2024, though it was recently increased to 51 per cent in January 2025. ATGL bridged the supply gap through alternative sources, including new well gas and spot market purchases.
During the quarter, ATGL expanded its CNG network to 605 stations by adding 28 new stations and increased its PNG household connections to 922,677 by connecting 28,677 new homes. The company also reported progress in its electric vehicle charging business, with 1,914 charging points now operational across 226 cities in 22 states and 4 union territories.
The gas distributor’s EBITDA for Q3FY25 stood at ₹272 crore, down 10 per cent year-on-year, primarily impacted by higher gas costs as the company had to source more expensive alternatives to APM gas. For the nine-month period ending December 2024, ATGL’s revenue increased 11 per cent to ₹3,950 crore, with a 2 per cent growth in profit after tax at ₹499 crore.
