NE BUSINESS BUREAU
AHMEDABAD, OCT 28
Adani Green Energy Ltd (AGEL) on Thursday reported a six-fold increase in its net profit for the quarter ending September 2021. The company posted a profit after tax of Rs 100 crore during Q2FY22 as against Rs 17 crore during the corresponding period in previous fiscal.
#AdaniGreenEnergy Q2 & H1 FY22 results#Adani #FinancialResults #Q2FY22
— Adani Green Energy Ltd. (@AdaniGreen) October 28, 2021
The company’s total income stood at Rs 1,411 crore in the second quarter of the current fiscal as against Rs 718 crore in the same period a year ago. AGEL said the EBITDA from power supply up by 50 per cent YoY to Rs 1,577 crore with 150 bps improvement in EBITDA margin to 93.1 per cent in H1 FY22
The company said, sale of energy increased by 54 per cent to 3,954 million units in H1 FY22. The capacity utilisation factor (CUF) improves by 50 bps year-on-year to 23.2 per cent and wind CUF improved by 710 bps YoY to 40.7 per cent in H1 FY22
“The solid solar and wind portfolio performance, led by a considerable improvement in CUF, is a testament that we are on the right track in terms of incorporating the finest O&M practices and adopting the latest technology,” said Vneet S Jaain, MD and CEO, AGEL.
He said the company is working towards having 25 GW of operational capacity by 2025.
AGEL recently in an all-cash deal, completed the acquisition of SB Energy Holdings Ltd at an enterprise valuation of Rs 26,000 crore. With this deal, SB Energy India is now a 100 per cent subsidiary of AGEL.
The company said the value accretive acquisition boosts AGEL’s operational portfolio to 5.4 GW and its overall portfolio to 20.3 GW.
