Adani Total Gas share price continued to gain for the second straight session on Tuesday as the company posted its earnings for the March quarter.
What Happened: The Adani Group company’s standalone revenue from operations jumped 12% year-over-year to ₹1,197.15 crore. The company achieved a total sales volume of 193 Million Standard Cubic Meters of Gas (MMSCM) in the quarter ended March, up around 2.1% YoY. CNG sales accounted for a majority of the sales at 121 MMSCM. The company added 126 new CNG stations in FY23 (April 2022-March 2023), taking the total number to 460.
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The company’s EBITDA for the period stood at ₹205 crore, up 45% from the year-ago period when the company’s EBITDA stood at ₹141 crore. PAT for the period in review stood at ₹104.25 crore, up 36% from the ₹75.79 crore profit it booked in the March quarter of 2022.
However, PAT slumped 30% sequentially as the company’s profits stood at ₹148.39 crore in the December quarter. Earnings per share for the quarter stood at ₹0.95. The company’s Debt-to-Equity ratio stood at 0.47x.
The company has also declared a ₹0.25/share for FY23.
Price Action: Adani Total Gas shares jumped 1.27% to close at ₹957 on Tuesday.
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