Adani Energy Solutions net profit rises 8% to ₹182 cr in Q1
₹181.98 crore in the June quarter, mainly on the back of higher revenues. The consolidated net profit of the company was ₹168.46 crore in the quarter ended on June 30, 2022, the company said in a press release. The total income of the company rose to ₹3,772.25 crore during the quarter from ₹3,249.74 crore a year ago.
“AESL is constantly evolving and is already a significant player in the T&D sector. 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 Ltd.
In terms of distribution business (AEML), it maintained supply reliability at 99.9% (ASAI). Energy demand (units sold) was up 7.6% YoY. Distribution losses were 4.85 per cent.
The loss was lower than usual due to seasonality, the company said. E-payment as a percentage of total collection was 78.5% in Q1 FY24 against 74.7% last year, driven by the digital adoption push. For smart metering business, Adani Green Solutions received LoA (Letter of Award) for three projects in Andhra Pradesh with a contract value of ₹3,700 crore during the quarter.
The total smart metering under-construction pipeline consists five projects with a contract value of ₹5,800 crore. Adani Transmission Ltd (ATL) has been renamed Adani Energy Solutions Limited (AESL) effective 27 July. Shares of the company settled 0.85% higher today at ₹821.80 on the BSE.
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