MUMBAI: Adani Green Energy on Monday announced a 51% rise in consolidated net profit to Rs 323 crore in the June 2023 quarter, driven by higher revenues. The company reported Rs 214 crore consolidated net profit in the quarter ended June 2022.
Total income increased 41% to Rs 2,404 crore in the quarter from Rs 1,701 crore in the year-ago period. “We aim to grow our renewable power capacity to 45 GW by 2030 through solar, wind and solar-wind hybrid solutions as major contributors.
To enable integration of renewables in the grid, round-the-clock solutions with long-term clean storage structures such as pumped hydro will be a critical part of our solution mix, contributing to a greener future and underscore our dedication to combating climate change challenges,” said Amit Singh, CEO, Adani Green Energy. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) from power supply rose 53% to Rs 1,938 crore with a high EBITDA margin of 92.%.
Adani Energy net profit rises 8% to Rs 182 crore
Adani Energy Solutions, earlier known as Adani Transmission, on Monday reported an 8% increase in its consolidated net profit at Rs 182 crore in the June quarter helped by higher revenues. The total income of the company rose to Rs 3,772.25 crore during the quarter from Rs 3,249.74 crore a year ago.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased to Rs 1,378 crore in the first quarter, registering a rise of 4% year-on-year. Company’s revenue in first quarter witnessed double-digit growth on account of incremental revenue from newly commissioned lines, partial commissioning of a few elements, and an increase in energy consumption in the Mumbai Distribution business.
“AESL’s growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India,” said Anil Sardana, MD, Adani Energy Solutions.