Adani Total Gas Sees 12 Percent Year-on-Year Increase in Quarterly Revenue

Adani Total Gas Ltd. has reported a 12 percent year-over-year increase in revenue from operations to INR 13.15 billion ($156.35 million) for the three months to September, the second quarter in the company’s financial year 2025 (Q2 FY2025).

The growth was driven by a 19 percent increase in compressed natural gas (CNG) sales volumes to 162 million cubic meters (5.72 billion cubic feet). The TotalEnergies SE-backed company added 18 stations in the period, expanding its CNG network to 577 stations, it said in its quarterly report.

Sales of piped natural gas (PNG) also rose seven percent to 80 million cubic meters (2.83 billion cubic feet) compared to the second quarter of financial year 2024. Adani Total Gas connected over 34,000 households to its pipeline distribution between July and September, increasing its household customers to 893,000.

It has also increased its industrial and commercial connections to more than 8,700 with over 200 consumers added.

Ahmedabad-based Adani Total Gas also put into service its first liquefied natural gas station for the transport sector. It is “progressing towards covering key highway networks aiding India’s decarbonization march”, chief executive and executive director Suresh P Manglani said.

Last month Adani Total Gas secured $375 million in financing from international lenders to expand its city gas distribution infrastructure across 13 states. Adani Total Gas aims to cover over 200 million people with the expansion campaign.

Adani Total Gas logged INR 4.44 billion ($52.79 million) in gross profit for Q2 FY2025, up 10 percent year-on-year. EBITDA climbed eight percent to INR 3.13 billion ($37.22 million). Profit after tax rose six percent to INR 1.78 billion ($21.16 million).

It said it is considering revising its pricing to account for a reduced allotment for gas covered under the government’s Administered Price Mechanism (APM). “With effect from 16 October 2024, there has been lower allocation of APM gas by 16 percent as compared to earlier allocation”, the company said.

“Following the recent reduction in APM gas allocation, which caters to auto CNG and home PNG consumers, we are closely monitoring the situation and given our diversified gas sourcing portfolio, we will ensure a calibrated pricing approach to balance the interest of our consumers", Manglani said.

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