Net profit within the January-March quarter of FY21 was Rs 145 crore in contrast to Rs 122 crore in the identical interval of the earlier fiscal, firm CEO Suresh P Manglani stated on a media name.
“This is the third successive quarter of highest ever financial performance with robust physical infrastructure growth despite ongoing pandemic,” he stated.
While the corporate had seen volumes of CNG offered to vehicles and piped pure fuel to households and industries recovered to pre-Covid degree within the second half of 2020-21, the resurgence of the pandemic has marginally damage demand.
“Gas demand has fallen as sure geographies are underneath lockdown,” he stated including this dip is especially in sale of CNG and industrial gasoline.
He, nevertheless, exuded confidence that the second pandemic recedes, the misplaced volumes can be recovered. “There is some decline in volume. We will compensate the decline in times of come.”
The firm offered 14 per cent extra fuel at 166 million commonplace cubic meters of fuel (75 mmscm CNG and 91 mmscm piped pure fuel) within the January-March quarter.
For the complete yr (April 2020 to March 2021), which was hit by the COVID-19 pandemic and ensuing lockdown pummelling financial exercise, gross sales quantity was down 12 per cent at 515 mmscm. CGN gross sales had been down 22 per cent within the yr, he stated.
For FY21, internet profit was up 8 per cent at Rs 472 crore.
“Average volume in the fourth quarter of FY21 increased to 1.85 million standard cubic meters per day as compared to average volume of 1.6 mmscmd in the third quarter of FY21 showing recovery of 11 per cent on quarter-on-quarter basis,” he stated.
The agency has began operations in 14 out of the 15 geographical areas (GAs) it had gained in latest licensing rounds. It added 102 CNG stations within the yr taking the whole quantity to 217 whereas piped cooking fuel connections elevated by almost 41,000 to 4.78 lakh.
Manglani stated, “With pandemic onslaught, it’s been a challenging year for the nation and city gas distribution (CGD) industry too. The key thrust of the Adani-Total Gas has been to continue to supply piped natural gas and CNG, and safely handle all operations and emergencies 24×7.”