- The consolidated net profit of the company stood at Rs 149 crore in the quarter ended on September 30 last year
- Revenue from operations at Rs 2,220 crore, up 40.2 per cent in comparison to Rs 1,584 crore during the second quarter of FY23
NE BUSINESS BUREAU
AHMEDABAD, OCT 31
Adani Green Energy on Monday posted nearly 149 per cent rise in its consolidated net profit at Rs 371 crore in the July-September quarter, compared to a year ago, mainly due to higher sales.
The consolidated net profit of the company stood at Rs 149 crore in the quarter ended on September 30 last year, a company release said.
Total income rose to Rs 2,589 crore in the reporting quarter from Rs 1,684 crore in the same period a year ago.
It posted revenue from operations at Rs 2,220 crore, up 40.2 per cent in comparison to Rs 1584 crore during the second quarter of FY23. The company EBITDA stood at Rs 1,699 crore, up 96.2 per cent on-year.
The sale of energy increased to 5,737 million units (MU) during the period from 3,067 MU in the year-ago quarter.
The sale of energy has increased by 78 per cent YoY (year on year) to 11,760 MU in H1 FY24 (April-September 2023), primarily backed by strong capacity addition and improved CUF (capacity utilisation factor) across solar, wind and hybrid portfolios, the company stated.
“In pursuit of our next milestone to create the largest RE cluster in the world in Khavda, Gujarat, we have already deployed workforce of 5,000-plus. At Khavda, we will be installing the most advanced TOPCon solar modules as well as India’s largest and one of the most efficient 5.2 MW wind turbine. These efforts will drive us towards achieving the lowest levelised cost of energy,” said Amit Singh, CEO, Adani Green Energy.
“Looking ahead, we aim to augment automation in our operations and make every decision even more intelligence driven through extensive digitalization and AI/ ML integration. Our commitment to sustainability and the highest level of governance will remain the foundation of our future growth,” Singh added.
Financial performance
| Particulars | Quarterly performance | Half yearly performance | ||||
| Q2 FY23 | Q2 FY24 | % change | H1 FY23 | H1 FY24 | % change | |
| Revenue from Power Supply | 1,105 | 1,984 | 80% | 2,432 | 4,029 | 66% |
| EBITDA from Power Supply 3 | 1,131 | 1,835 | 62% | 2,396 | 3,775 | 58% |
| EBITDA from Power Supply (%) | 91.5% | 91.3% | 91.7% | 92.2% | ||
| Cash Profit 4 | 600 | 1,031 | 72% | 1,281 | 2,082 | 63% |
Adani Green Energy, a part of India-based Adani Group, has one of the largest global renewable portfolios with overall locked-in portfolio of 20.4 GW, including operating, under-construction and awarded projects.
