Adani Total Gas Ltd on Tuesday reported a 19 per cent rise in its Q4 net profit in FY21 over the corresponding period of previous fiscal. The profit after tax was Rs 145 crore in the last quarter of FY21 compared to Rs 122 crore in the same period of the previous fiscal.
A company release said that the combined volume of CNG and PNG achieved 166 million metric standard cubic meters (MMSCM) versus 145 MMCM in last quarter of previous fiscal.
The average volume in Q4 FY21 increased to 1.85 MMSCMD as compared to average volume of 1.67 MMSCMD in Q3 FY21 showing recovery of 11 per cent on QoQ basis.
The CNG stations increased to 217 in FY21 alone and 102 new CNG stations were commissioned. The PNG home connection increased to 4.78 lakh (40,939 new connections were added in FY21). Industrial and commercials connections increased to 4,966.
The revenue from operations stood at Rs 614 crore compared to Rs 490 crore in Q4 FY20
EBITDA (earnings before interest, taxes, depreciation, and amortization) for Q4FY21 increased by 25 per cent year on year to Rs 224 crore versus Q4 FY20 EBITDA of Rs 180 crore.
Commenting on the quarter result of the company, Gautam Adani, Chairman, Adani Group said these outstanding results are a testament to the excellent synergy between Adani and Total. "Our combined strengths will significantly contribute towards the creation of a gas-based economy. We are committed to ushering in this cleaner fuel across the nation in line with our vision to build a sustainable," he said.
Suresh P Manglani, CEO of Adani Total Gas, said that with pandemic onslaught, it's been a challenging year for the nation and CGD industry too.
"The key thrust of the ATGL has been to continue to supply PNG and CNG, and safely handle all operations and emergencies 24X7. I am pleased to see that Team ATGL stood together and despite pandemic has delivered all round superior performance for the Quarter four and financial year 2021. This is the third successive quarter of highest ever financial performance with robust physical infrastructure growth despite ongoing pandemic. We all at ATGL are standing with our consumers, community at large and nation to extend our full support to overcome the challenges of COVID- 19. We are consistently encouraging society to adopt PNG and convert their vehicles to environmental- friendly CNG to contribute in reduction of carbon footprints," he said.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor