Ahmedabad, August 07, 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.