Q2 results: Adani Energy Solutions reports higher PAT at Rs 773 crore, up 172% YoY

  • Adjusted PAT at Rs 459 crore excluding deferred tax reversal (MAT entitlement) of Rs 314 crore, up 61.6% YoY
  • EBITDA at Rs 1,891 crore, up 31% YoY

NE BUSINESS BUREAU

AHMEDABAD, OCT 22

Adani Energy Solutions Limited (AESL), part of the globally diversified Adani portfolio and the largest private transmission and distribution company in India with a growing smart metering portfolio, on Tuesday reported a multi-fold rise in its PAT to Rs 773 crore, up 172% YoY for the quarter ended September 2024 (Q2), driven by higher revenue generation and deferred tax reversals.

The company noted that its total income witnessed robust growth due to contributions from newly operationalised transmission assets, partial completion of lines at under-construction projects, and an increase in energy sales driven by strong demand growth in its distribution businesses in Mumbai and Mundra, as well as growing contributions from its smart metering business.

Ebitda increased by 31 per cent year-on-year to Rs 1,891 crore for the quarter, supported by strong revenue growth, EPC income in transmission, treasury income, and steady regulated Ebitda in Adani Energy’s Mumbai operations.

“We are pleased to have delivered another quarter with robust operating and financial performance. The company remains focused on timely project commissioning as well as achieving operating efficiencies. The power demand trends in both utilities and new transmission project wins are very encouraging and we are making progress with the installation of smart meters in all our contracts. Our credible steps of successfully divesting the Dahanu thermal plant in line with our commitment and achieving an all-time high share of 39% renewable power penetration in Mumbai strengthens our position as true energy transition leader in India. We are also pleased to share that prestigious business magazine ‘Businessworld’ has recognized AESL as one of the India’s Most Sustainable Companies with a 2nd position in the Energy and Mining Sector and 23rd in the overall list. This demonstrates our unwavering dedication to reduce our carbon footprint and promote sustainable business practices,” said Kandarp Patel, CEO, Adani Energy Solutions.

Q2 FY25 Highlights

Consolidated Financial Performance                                                                                (Rs crore)

Particulars Q2 FY25 Q2 FY24 YoY % 1H FY25 1H FY24 YoY %
Total Income 6,360 3,766 68.9 11,850 7,539 57.2
Operational Revenue 4,217 3,421 23.3 8,768 7,042 24.5
Total EBITDA 1,891 1,443 31.0 3,653 2,821 29.5
Operating EBITDA 1,626 1,368 18.9 3,235 2,622 23.4
PAT 773^ 284 172.2  1,088# 466 133.4
Adjusted PAT 459* 284 61.6 774* 466 66.1
Cash profit 1,026^  757 35.4 1,934# 1,406 37.5

 

Segment-wise Financial Highlights:                                                                                              (Rs crore)

Segment Particulars Q2 FY25 Q2 FY24 YoY % 1H FY25 1H FY24 YoY%
Transmission Op Revenue 1,197 941 27.2 2,372 1,825 30.0
EBITDA 1,278 907 40.9 2,426 1,769 37.2
PAT 364 259 40.2 614 421 45.8
Cash Profit 690 501 37.7 1,261 918 37.3
Distribution (AEML and MUL) Op Revenue 3,014 2,480 21.5 6,386 5,217 22.4
EBITDA 588 536 9.8 #1,180 1052 12.2
PAT 398 25 1518.8 #449 45 898.1
Cash Profit  323 256 25.9 #643 488 31.7