Adani Green Q2 Results: Cons PAT surges 2.5 times to Rs 372 crore, revenue up 40% YoY
Adani Green Energy on Monday reported robust earnings for the quarter ended September 2023, with the consolidated net profit rising 2.5 times year-on-year (YoY) to Rs 372 crore.
Consolidated net revenue from operations increased by 40% on year to Rs 2,220 crore.
One of the primary factors driving the sharp rise in net profit was the other income.
Other income for the quarter was Rs 369 crore, compared with Rs 100 crore a year ago.
This other income was pertaining to readjustment in the value of the land holding of SB Energy, which was not accounted for during its acquisition, pending land allotment.
Such income to the tune of Rs 122 crore has been classified under «other income”, the company said.
The operational capacity of the Adani Group company increased by 24% YoY to 8,316 MW, with addition of 1,150 MW solar-wind hybrid, 212 MW solar, and 230 MW wind power plants over the last one year.
The sale of energy increased by 78% YoY to 11,760 million units.
