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 in the course of the quarter in opposition to Rs 97.9 crore within the corresponding quarter in FY 2023.
ATGL’s income rose 4.7% to Rs 1,167 crore within the final quarter in opposition to Rs 1,114.8 crore within the year-ago interval.
The Board of Directors of the ports-to-power conglomerate Adani Group-owned entity, determined to suggest a dividend of 25 paise per Equity Share of face worth of Re 1 every totally paid-up for the FY 2024.
During all the fiscal yr, ATGL earnings rose 23% to Rs 653 crore as in comparison with 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 stated in a press release.
The company’s earnings per share rose to Rs 1.53 in the course of the fourth quarter as in comparison with Rs 0.89 within the yr in the past interval.
ATGL inventory rose 1.07% to Rs 928.9 apiece on Tuesday because the markets closed, in opposition to the earlier shut of Rs 919.10 on BSE. The earnings have been introduced after market hours. The company’s market cap rose to Rs 1.02 lakh crore.
