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Informist, Tuesday, Oct. 22, 2024

 

By Akshay V Johnson

 

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--Adani Green Jul-Sept consol net profit INR 2.76 bln vs INR 3.72 bln yr ago 
--Adani Green Jul-Sept consol revenue INR 30.55 bln vs INR 22.20 bln yr ago 
--Adani Green Apr-Sept consol net profit INR 7.22 bln vs INR 6.94 bln yr ago 
--Adani Green Apr-Sept consol revenue INR 58.89 bln vs INR 43.82 bln yr ago 
--Adani Green:Sales from power supply INR 23.1 bln in Jul-Sept, up 16% on yr 
--Adani Green: EBITDA from power supply INR 21.4 bln in Jul-Sept, up 17% YoY 

 

MUMBAI – Adani Green Energy Tuesday reported a consolidated net profit of INR 2.76 billion for Jul-Sept, down 25.8% on year from INR 3.72 billion in the year-ago quarter. The company reported a consolidated net revenue of INR 30.55 billion for the September quarter, up 37.6% on year. The company's consolidated revenue growth for the September quarter is the highest in four quarters. The company's other income for the September quarter was INR 3.21 billion, down 13% on year.

 

For the September quarter, the company reported total expenses of INR 28.37 billion, up 31.3% from INR 21.6 billion in the year-ago quarter. Adani Green Energy reported a finance cost of INR 13.69 billion, up 17.5% from INR 11.65 billion in the year-ago quarter. The company's depreciation and amortisation expense for the September quarter was INR 6.18 billion, up 30.4% on year. The company's finance cost accounted for 48.3% of its total expenses and depreciation and amortisation expense accounted for 21.8% of its total expenses. 

 

In Apr-Sept, the company reported a consolidated net profit of INR 7.22 billion, up 4% on year. It reported a consolidated revenue of INR 58.89 billion, up 34.4% on year.  

 

The company's cash profit increased by 21% to INR 12.49 billion for the September quarter. The company's revenue from power supply for Jul-Sept was INR 23.09 billion, up 16% on year. The company's earnings before interest, tax, depreciation, and amortisation from power supply was INR 21.43 billion, up 17% on year. The strong growth in revenue, EBITDA, and cash profit can be attributed to the greenfield capacity addition of 2,868 megawatt and consistent plant performance, Adani Green energy said.

 

In Apr-Sept, Adani Green Energy's operational capacity grew by 34% on year to 11.2 gigawatt, the company said in a media release. The company's energy sales grew 20% on year to 14,128 million units in Apr-Sept. The company's cash profit rose to INR 26.40 billion, up 27% on year, for the first half of the current financial year. Adani Green Energy has received a contract to supply 5 GW of solar energy under 25-year power purchase agreement with Maharashtra State Electricity Distribution Co. 

 

At present, solar energy comprises 66% of the total operational capacity of the company, with wind and hybrid contributing to 15% and 19% respectively. The company aims to increase its capacity to 50 GW by 2030, with solar energy comprising 71% of the total capacity. About 92% of the company's business comes from 25-year fixed tariff purchase agreements. On Tuesday, shares of Adani Green Energy closed at INR 1,684.45 on the National Stock Exchange, down 1.5%.  End

 

US$1 = INR 84.08

 

Edited by Vidhi Verma

 

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