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2 Adani energy arms show mixed Q1 results
Mint Mumbai
|August 01, 2023
Adani Green Energy’s consolidated net profit increased by 50.5% year-on-year to ₹322 crore from ₹214 crore in the previous year, while its revenue rose by 41.3% to ₹2,404 crore from ₹1,701 crore in Q1 FY2023.
Adani Green Energy Ltd (AGEL) and Adani Energy Solutions Ltd (AESL), previously known as Adani Transmission Ltd, on Monday, reported mixed financial results for the first quarter of FY2024.
Adani Green Energy’s consolidated net profit increased by 50.5% year-on-year to ₹322 crore from ₹214 crore in the previous year, while its revenue rose by 41.3% to ₹2,404 crore from ₹1,701 crore in Q1 FY2023.
AGEL’s Ebitda from power supply increased by 53% year-on-year to ₹1,938 crore, with a high Ebitda margin of 92.5%.
Despite impressive performance, the company also recorded a one-time loss of ₹50 crore during the April-June quarter, the company said in a regulatory filing.
“We aim to grow our renewable power capacity to 45 GW by 2030 through Solar, Wind and Solar-Wind hybrid solutions as major contributors," said Amit Singh, CEO, Adani Green Energy.
This story is from the August 01, 2023 edition of Mint Mumbai.
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