Adani Total Gas aims to expand e-mobility charging points to over 3,000

The company has expanded its network of compressed natural gas (CNG) stations, adding 23 new stations during Q2FY24.

By Shahkar Abidi calendar 31 Oct 2023 Views icon3396 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Adani Total Gas aims to expand e-mobility charging points to over 3,000

Adani Total Gas Ltd. (ATGL) is looking to increase the number of charging points for e-mobility to over 3000 in the near future from about 221 charging points spread across 64 locations at present.  

Suresh P Manglani, ED and CEO of Adani Total Gas said “ATGL has also made significant progress on e-mobility and biomass businesses. In the e-mobility business, charging points have now increased to 221 charging points across 64 locations and we soon intend to reach to 3000 charging points." 

In addition to e-mobility, ATGL has made headway in the biomass business. The company secured a 500- Tonne Per Day (TPD) Municipal Solid Waste (MSW) based biogas project in Ahmedabad during Q2 FY24. Now, ATGL is actively exploring similar opportunities nationwide. Manglani expressed the company's commitment to commissioning phase 1 of the Barsana Compressed Bio Gas (CBG) plant in Uttar Pradesh within the current financial year.

Furthermore, ATGL has expanded its network of compressed natural gas (CNG) stations, adding 23 new stations during Q2FY24. The total number of CNG stations now stands at 483.

Financial Performance

ATGL reported a net profit of Rs 168 crore, marking a 20% year-on-year increase compared to the same period last year. However, the company's revenues from operations during the reported period amounted to Rs 1,178 crore, reflecting a 1% decline compared to the corresponding period in the previous year.

The company's top officials stated that the revenue from operations has remained flat as there was reduction in gas cost due to a revised pricing formula approved by Government of India w.e.f. 8 April 2023 which ATGL passed on the benefit to its consumers, resulting in decrease in sales price.


 

RELATED ARTICLES
CEAT’s Q1FY25 net profit grows 7% YoY despite weak operating performance

auther Autocar Pro News Desk calendar18 Jul 2024

Despite a decline in operating profit, CEAT reported a growth in net profit on account of a one-time gain arising from a...

Tata Technologies partners with Arm for innovation in SDVs 

auther Autocar Pro News Desk calendar18 Jul 2024

As part of this strategic partnership, Tata Technologies will develop a SOAFEE reference architecture stack using the Ar...

LNG as a fuel for heavy commercial vehicles looks brightest, says IOC Director Sujoy Choudhary

auther Autocar Pro News Desk calendar18 Jul 2024

“The major area where we are seeing significant traction is LNG. This is a sunrise area that we are seeing. LNG by road ...