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Informist, Thursday, Jan. 23, 2025

 

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--Adani Green Oct-Dec consol net profit INR 4.92 bln vs INR 2.56 bln yr ago 
--Adani Green Oct-Dec consol revenue INR 23.65 bln vs INR 23.11 bln yr ago 
--Adani Green Apr-Dec consol net profit INR 12.14 bln vs INR 9.50 bln yr ago 
--Adani Green Apr-Dec consol revenue INR 82.54 bln vs INR 66.93 bln yr ago 
--Adani Green Oct-Dec revenue from power supply INR 19.93 bln, up 13% on year 
--Adani Green Oct-Dec EBITDA from power supply INR 18.48 bln, up 13% on year 
--Adani Green Oct-Dec EBITDA margin from power supply 91.4% vs 91.5% yr ago 
 

 

By Anshul Choudhary

 

MUMBAI – Adani Green Energy Ltd.'s consolidated net profit during the December quarter surged over 92% on year to INR 4.92 billion. A part of the reason for this kind of performance was the low base of last year, when the net profit had taken a one-time hit of INR 1 billion on account of some expenses related to debt refinancing. Further, the company received a tax write-back of INR 1.1 billion this quarter, which also shot up its profits. 

 

Excluding taxes, exceptional items, and the share from its associate companies and joint ventures, Adani Green Energy's profits were flat on year at INR 3.07 billion. At the same time, the company's consolidated revenue during the quarter was INR 23.65 billion, up only 2% on year. Sequentially, the net profit attributable to shareholders was up 78% on quarter, while the revenue was down 17%.

 

The company's revenue from power supply rose over 13% to INR 19.93 billion during the quarter. However, this was offset by lower revenue from selling goods and equipment, which declined 35% on year to INR 2.93 billion. I

 

Overall, the company's expenses were at INR 23.23 billion, down 2% on year due to lower cost of equipment sold and finance costs. Its finance costs during the quarter fell 24% on year to INR 9.44 billion. In terms of profitability, Adani Green's earnings before interest, taxes, depreciation, and amortisation of the power supply business rose 13% on year to INR 18.48 billion. However, the EBITDA margin for the same business was marginally down to 91.4%.

 

For the nine months ended December, Adani Green reported a growth of nearly 28% in its consolidated net profit to INR 12.14 billion. Its consolidated revenue during the same period increased 23% on year to INR 82.54 billion.  

 

In Apr-Dec, the company sold over 20 billion units of energy, up 23%, driven by a higher share of solar energy. So far this year, the company has increased the sale of solar and wind energy, but hybrid energy sales declined. Higher sales were aided by increased capacities during the period. The company has increased its capacity to 11.61 gigawatt as on Dec. 31, with over 3 GW of capacity addition so far this financial year. On Thursday, shares of Adani Green closed at INR 1,030.25 on the National Stock Exchange, down 0.1%.  End

 

Edited by Akul Nishant Akhoury

 

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