Adani Energy Solutions' Q4 net profit falls 13% to Rs 381 cr
Adani Energy Solutions Ltd (AESL) on Tuesday posted a 13.26 per cent fall in its consolidated net profit to Rs 381.29 crore during the quarter ended March 2024 on account of increased expenses.
Its net profit after tax was at Rs 439.60 crore in the January-March period of the preceding 2022-23 financial year, the company said in an exchange filing.
For the whole Financial Year (FY) 24, the company reported a net profit of Rs 1195.61 crore, down from Rs 1280.60 crore in FY 23.
During the fourth quarter, the company's total income surged to Rs 4,855.18 crore from Rs 3,494.84 crore a year ago.
The income in FY 24 was at Rs 17,218.31 crore as against Rs 13,840.46 crore in FY 23. The expenses were Rs 4,358.83 crore in the period under review, as against Rs 3,200.50 crore in the year-ago period.
In FY 24, the expenses rose to Rs 14,978.74 crore from Rs 13,164.32 crore in the preceding financial year.
In a separate statement, the company said its revenues witnessed a double-digit growth on account of the contribution from the newly operationalised transmission assets, commissioning of elements at North Karanpura and MP-II package lines and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra.
AESL MD Anil Sardana said, «AESL's consistent progress in commissioning of new lines, along with robust energy demand, and our ability to recognise and tap market opportunities within the areas of interest continues to propel our growth and keeps us at the
