Adani Total Gas Ltd (ATGL) on Monday reported a profit decline of 19.40 per cent for the third quarter of FY25 to Rs 142.38 crore, in comparison to Rs 176.64 crore recorded during the corresponding quarter of FY24. The profit decline was attributed to increased depreciation due to expanding asset base. It posted revenue from operations at Rs 1400.88 crore, up 12.61 per cent as against Rs 1244 crore recorded during the third quarter of previous financial year, on account of higher volume.
Besides higher volume, with lower allocation of APM gas to CNG segment coupled with higher R-LNG price due to winter, the cost of natural gas rose by 20 per cent. During the quarter, Adani Total Gas said, APM allocation for CNG segment was at around 47 per cent, and the balance was met with New Well Gas, existing contracts and Spot procurement. “ATGL took a balanced approach in passing the higher gas cost to ensure volume growth does not get impacted, but due to the replacement of APM gas with other sources, the gas cost has increased, which has impacted the quarter profitability,” it said in a statement.
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Meanwhile, on a standalone basis, ATGL recorded profit for the quarter at Rs 143 crore and revenue from operations increased by 12 per cent, reaching Rs 1397 crore. EBITDA stood at Rs 272 crore.
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Suresh P Manglani, ED & CEO, ATGL, said, “ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15 per cent year-on-year increase in volume. Despite the reduced APM gas allocation, Team ATGL ensured an uninterrupted supply of CNG to our large masses of consumers by sourcing additional supplies of gas through alternative options. The key to us is to calibrate the end prices balancing the affordability of end consumers and other stakeholders including profitability of the Company which is evident from our growth in the volumes of 15 per cent and EBIDTA growth of 6 per cent for 9 months period on YoY basis.
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