Latest news with #Adani-TotalGasLtd
Hans India
29-04-2025
- Business
- Hans India
10% drop in Adani-Total Gas Q4 net profit
New Delhi: Adani-Total Gas Ltd, the city gas joint venture of Adani group and TotalEnergies of France, on Monday reported a 10 per cent drop in its fourth quarter net profit on higher cost of gas while the revenue soared 15 per cent. Net profit of Rs 149 crore in January-March - the fourth quarter of April 2024 to March 2025 fiscal year - compared with Rs 165 crore earnings in the same period of the previous year, according to a company statement. Revenue from operations was up 15 per cent at Rs 1,448 crore. The margins were impacted as the cost of natural gas - which is converted into CNG for sale to automobiles and piped to household kitchens for cooking - soared 27 per cent as the firm had to replace reduction in cheaper domestically produced fuel (called APM gas) with higher-priced gas. The company added 42 new CNG stations to take the total strength to 647. Domestic piped natural gas users rose to 9.62 lakh after addition of 1.42 lakh in the year. After including its joint ventures, the firm had a combined CNG network of 1,072 and 1.14 million piped natural gas users. It also had 3,401 EV charging points installed across 26 states and Union Territories. 'Recently, with effect from April 16, 2025, while APM allocation of natural gas for CNG (Transport) has been reduced from 51 per cent (of the requirement) to 37 per cent, it has been replaced with (higher priced) new well gas (NWG) / intervention gas and the combined volume allocation of APM and NWG for CNG effective April 16 is at 65 per cent (of the total requirement),' the firm said. During the year, Adani-Total Gas Ltd (ATGL) continued its thrust to expand access of piped natural gas and CNG to large masses, said Suresh P Manglani, ED & CEO of ATGL. On renewable energy sourcing, the firm has set up a compressed biogas plant at Barsana which converts agri and other waste into gas.
Deccan Herald
21-04-2025
- Business
- Deccan Herald
Govt tweaks city gas policy, moves to advance quarterly allocations
With city gas retailers like Indraprastha Gas Ltd, Mahanagar Gas Ltd and Adani-Total Gas Ltd reporting pressures on margins after the allocation of cheaper administered price or APM gas to them was cut without giving enough advance notice, the ministry decided to tweak the allocation policy.
