AHMEDABAD:
Adani Total Gas
Limited (ATGL) on Monday posted a 71.6% rise in its consolidated
net profit
for the fourth quarter of FY 2024. The company posted Rs 168 crore of profit during the quarter against Rs 97.9 crore in the corresponding quarter in FY 2023.
ATGL’s
revenue
rose 4.7% to Rs 1,167 crore in the last quarter against Rs 1,114.8 crore in the year-ago period.
The Board of Directors of the ports-to-power conglomerate Adani Group-owned entity, decided to recommend a
dividend
of 25 paise per Equity Share of face value of Re 1 each fully paid-up for the FY 2024.
During the entire fiscal year, ATGL profits rose 23% to Rs 653 crore as compared to Rs 530 crore.
“CNG volume increased by 21% year-on-year on account of network expansion across multiple Geographical Areas. With recovery of PNG Industrial volume and addition of new PNG connections in domestic and commercial segments, PNG Volume has increased by 5% year-on-year. Although the overall volume has increased by 15%, the revenue from operations has increased only by 3%. This was on account of the reduction in gas cost by 6% year-on-year due to easing of APM gas price and efficient gas sourcing,” the company said in a statement.
The company’s earnings per share rose to Rs 1.53 during the fourth quarter as compared to Rs 0.89 in the year ago period.
ATGL stock rose 1.07% to Rs 928.9 apiece on Tuesday as the markets closed, against the previous close of Rs 919.10 on BSE. The earnings were announced after market hours. The company’s market cap rose to Rs 1.02 lakh crore.
