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Adani Green nets rs 310 cr in Q4 despite cost pressures
The Business Guardian
|May 04, 2024
Adani Energy Solutions Ltd (AESL) reported a 13.26% decline in its consolidated net profit to Rs 381.29 crore for the quarter ended March 2024, attributed to increased expenses.
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This marked a drop from Rs 439.60 crore in the same period of the preceding financial year. For the entire fiscal year 2024, the company's net profit stood at Rs 1195.61 crore, down from Rs 1280.60 crore in FY 23. However, AESL witnessed a significant surge in total income during Q4, reaching Rs 4,855.18 crore compared to Rs 3,494.84 crore a year ago. Similarly, for FY 24, total income rose to Rs 17,218.31 crore from Rs 13,840.46 crore in FY 23. Expenses also saw a corresponding increase, reaching Rs 4,358.83 crore in Q4 and Rs 14,978.74 crore for FY 24.
According to AESL, the revenue growth was driven by contributions from newly operationalized transmission assets, commissioning of elements at North Karanpura and MP-II package lines, and increased unit sales due to higher energy consumption in the distribution business at Mumbai and Mundra.
Dit verhaal komt uit de May 04, 2024-editie van The Business Guardian.
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