AGL announces Q1FY20 Result
Revenue from Operations increased 21% in Q1 FY20 to Rs. 479 Cr vs Rs. 396 Cr in Q1 FY19
Operating EBITDA also increased 32% in Q1 FY20 to Rs. 135 Cr vs Rs.103 Cr in Q1 FY19
Q1 FY 20
- Connected more than 11,000 PNG Connections, Cumulative 0.40 Million Connections
- The Company has Operationalized 2 New CNG station, Totaling to 84 CNG Stations
Q1 FY 20
- Volume increase of 10% in PNG and 9% in CNG in Q1 FY 20 on Y-o-Y basis
- Q1 20 Revenue from Operations increased 21% Y-o-Y to ` 479 Cr vs. Q1 19 ` 396 Cr
- Q1 20 Operating EBITDA has increased by 32% Y-o-Y to ` 135 Cr vs. Q1 19 ` 103 Cr
- Q1 20 PAT has increased by 43% Y-o-Y to ` 79 Cr vs. Q1 19 ` 55 Cr
Ahmedabad, August 7th, 2019: Adani Gas Limited (AGL), a part of the Adani Group, today announced its operational and financial performance for first quarter ended 30th June, 2019.
Q1 FY20 Overall Sales Volume grew by 9% to 137 MMSCM on the back of strong volume growth in both PNG and CNG distribution. Our volume of PNG distribution has increased by 10% to 67 mmscm vs 60 mmscm in comparative period. Our CNG volume has grown by 9% to 71 mmscm against 65 mmscm in comparative period. Our Operating EBITDA for Q1 FY20 has increased by 32% Y-o-Y to ` 135 Cr vs ` 103 Cr last year.
Mr. Gautam Adani, Chairman, Adani Group,
said, “Adani Group’s growth in sectors critical to nation building has been significant, supporting the various initiatives undertaken by the Government of India. In the coming years, Adani Gas Ltd. will aggressively focus on fulfilling our national energy imperatives and will succeed in transforming India to a gas-based economy, consequently creating substantial value for our shareholders. As one of the biggest and most dense city gas distribution networks in the country, AGL is poised for to be part of a million growth stories and success stories from all over India”.
Suresh P Manglani, CEO, Adani Gas Ltd.,
said, “AGL in the first quarter of FY20 has performed well. With our growing footprint across the country, AGL is aiming to extend value to many and is taking yet another step towards India’s dream of embracing a better energy mix. Adani Gas will continue to be a leader in the city gas distribution sector in India. We, along with our JV partner IOC, are already authorized to distribute gas in 38 geographical areas covering 71 districts, 68 large towns and almost 8% of Indian population in 15 states. Currently we are operating CGD Network in 13 Locations together with our JV Company IOAGPL.
About Adani Gas
Adani Gas Ltd is developing and operating City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to industrial, commercial and domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable and environment friendly fuel that allows consumers to enjoy a high level of safety, convenience and economic efficiency. Headquartered in Ahmedabad, India, the company has already set up city gas distribution networks in Ahmedabad and Vadodara in Gujarat, Faridabad & Palwal in Haryana and Khurja in Uttar Pradesh. In addition, our joint venture company has already commenced its operations in the cities of Prayagraj, Chandigarh, Ernakulam, Panipat, Daman, Dharwad, Udhamsingh Nagar and Bulandsahar.
For more information please visit Website - www.adanigas.com