Adani Total Gas clocks 21 pc rise in operational revenue in Q1, overall volume up by 16 pc
Its CNG stations network reached 650 stations across 34 Geographical Areas (GA) in the quarter, and over 9.9 lakh homes are now connected with Piped Natural Gas (PNG), the company said in a statement.
With the addition of new PNG connections, PNG volume has increased by 6 per cent (on-year. The company increased Industrial and Commercial connections to 9,456, with 157 new customers added in the quarter ended June 30.
"During the quarter, we achieved a robust year-on-year volume growth of 16 per cent, driven by a 21 per cent increase in CNG volumes. We are continuing expansion of our CGD networks across all 34 Geographical Areas (GAs) with over 14,000 inch-km of backbone steel pipelines, 650 CNG stations and are very close to touching 1 million consumers' base," said Suresh P Manglani, ED and CEO of Adani Total Gas.
EV charging points have increased to over 3,800. This all-round superior performance was delivered while APM gas allocation for CNG was at 43 per cent, and the balance supplies were being offset with the allocation of higher-priced new wells and HPHT (High Pressure High Temperature) gas.
'As a result of our continued efforts to build a robust gas sourcing portfolio, enhanced operational efficiency and digitalisation of processes, we have ensured 100 per cent reliability of supply and continuation of prudent pricing to our consumers both for PNG and CNG. Happy to note that Team ATGL has delivered sustained stable EBITDA even as gas prices rose sharply year-on-year," Manglani said.
Besides higher volume, the gas cost increased by 31 per cent, largely due to the lower allocation of APM to the CNG segment being replaced by high-priced new well gas and HPHT gas. To ensure volume growth, the company took a calibrated approach in passing on the higher price to consumers.
"We remain fully committed to supporting India's energy transition by providing low-carbon solutions across industrial, household, and transportation sectors," said Manglani.
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