Adani Green Energy Q1: Net profit surges 95% to Rs 629 crore
Adani Green Energy Ltd, the renewable energy arm of Adani Group reported a 95% increase in consolidated net profit for the quarter ended June 30, on the back of higher revenues led by capacity addition.
Net profit came in at Rs 629 crore against Rs 323 crore reported in the first quarter of the last fiscal year.
Total income was up 22% to Rs 3211 crore against Rs 2550 crore in the June quarter of the last fiscal year.
Revenue from power supply was up 22% at Rs 2528 crore against Rs 2045 crore. Ebitda (earnings before interest, tax, depreciation, and amortization) was at 92.6%, nearly flat. Cash profit was up 32% at Rs 1390 crore.
«The robust growth in revenue, Ebitda and cash profit is primarily driven by a capacity addition of 2,618 MW over the last year,» the company said in a press release.
The company's operational capacity expanded by 31% year-on-year to 10,934 MW, with greenfield additions, including 2,000 MW of solar capacity in Khavda, 418 MW of solar capacity in Rajasthan and 200 MW of wind capacity in Gujarat.
Energy sales increased by 22% year-on-year on the back of robust capacity additions and
strong operational performance.
«We are working relentlessly towards the development of the world’s largest single-location renewable energy plant of 30 GW at Khavda in Gujarat,» said Amit Singh, CEO of Adani Green Energy Ltd, He added that to enable accelerated implementation, the company has deployed advanced robotics technology for installation of solar modules, significantly enhancing productivity.
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