Operating EBITDA increased by 35% in 9M FY 20 to ` 427 Cr vs ` 315 Cr in 9M FY19
Ahmedabad, February 5, 2020: Adani Gas Limited (AGL), a part of the Adani Group, today announced its operational and financial performance for the nine months and quarter ended 31st December 2019.
Adani Gas Limited (AGL): Standalone Financial Statement:
Mr. Gautam Adani, Chairman, Adani Group, said, “Adani Gas has delivered all round good performance both for Q3 and 9M FY 2020 and further aims to expand its footprint in the natural gas sector across the country. The partnership with TOTAL will further enhance Adani Gas capabilities in building the best in class assets and creating a world class organization”.
Suresh P Manglani, CEO, Adani Gas Ltd., said, “Adani Gas Ltd in the third quarter of FY20 has benefited from sweating its existing assets and enhanced coverage of newer assets. This has resulted in improved volumes and profitability. The City Gas Distribution (CGD) sector is expected to grow exponentially with developments in connectivity and infrastructure and Adani Gas will continue to be a leader in the CGD sector in India.”
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, Vadodara in Gujarat, Faridabad in Haryana and Khurja in Uttar Pradesh.
Additionally, Started Commercial Operation in 4 GA allotted under 9th ROUND of CGD Bidding by PNGRB namely Porbandar, Kheda, Surendranagar in Gujarat and Palwal in Haryana.
In addition, our joint venture company IOAGPL has already commenced its Commercial operations in the cities of Prayagraj, Chandigarh, Ernakulam, Panipat, Daman, Dharwad, Udhamsingh Nagar and Bulandsahar.