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Hot Pursuit
18-Sep-23
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Adani Total Gas bags order worth Rs 130 -150 cr from AMC
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Adani Total Gas said that it has received work order from Ahmedabad Municipal Corporation (AMC) to operate 500 tonnes per day (TPD) capacity of bio-CNG (CBG) plant located in Ahmedabad.
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The order includes designing, building, financing and operating 500 tonnes per day (TPD) capacity bio-CNG (CBG) plant on public-private partnership (PPP) Model at Pirana / Gyaspur, Ahmedabad. AMC shall provide land for setting up the CBG plant and 500 TPD of waste at the doorstep of the plant.
The said project will be executed in concession period of 20 years and the cost of the project will be in the range of Rs 130 to Rs 150 crore.
Adani Total Gas is one of India's leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.
The natural gas distribution company reported 7.1% increase in net profit to Rs 147.69 core in Q1 FY24 from Rs 137.84 crore recorded in Q1 FY23. Revenue from operations increased marginally to Rs 1,055.58 crore in Q1 FY24 as against Rs 1,042.35 crore posted in Q1 FY23.
The scrip rose 0.34% to Rs 639 on the BSE.
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