Earnings Review
Adani Energy's Jan-Mar net profit up nearly 80% YoY on higher income
This story was originally published at 17:47 IST on 24 April 2025
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--Adani Energy Jan-Mar consol PAT INR 6.47 bln vs INR 3.61 bln year ago
--Adani Energy Jan-Mar consol revenue INR 63.75 bln vs INR 47.07 bln yr ago
--Adani Energy FY25 consol net profit INR 10.60 bln vs INR 11.37 bln yr ago
--Adani Energy FY25 consol revenue INR 237.67 bln vs INR 166.07 bln yr ago
--Adani Energy Jan-Mar transmission revenue INR 22.47 bln vs INR 16.47 bln
--Adani Energy Jan-Mar distribution revenue INR 29.07 bln vs INR 23.96 bln
--Adani Energy Jan-Mar consol operating margin 32% vs 34.44% year ago
--Adani Energy Jan-Mar consol operating EBITDA INR 17.57 bln, up 8.5% on yr
--Adani Energy FY25 capex INR 114.44 bln vs INR 56.13 bln in FY24
--Adani Energy: Transmission ops order book at INR 599.36 bln on Mar 31
--Adani Energy plans to install 6 mln-7 mln smart meters in FY26
By Sunil Raghu
AHMEDABAD – Adani Energy Solutions Ltd. reported a jump of 79.1% in consolidated net profit to INR 6.47 billion for the March quarter, helped by higher sales via recently commissioned transmission projects and rising contribution from the company's smart meters business. Sequentially, the net profit rose 15.1%. The company's consolidated revenue for the quarter rose 35.0% to INR 63.75 billion, from INR 47.07 billion a year ago.
This is the 16th successive quarter that the company's net revenue has grown on year and the third successive quarter of growth in net profit. In Oct-Dec, the net profit of Adani Energy Solutions had grown 72.9% on year.
The company's Jan-Mar consolidated earnings before interest, taxation, depreciation, and amortisation rose 28.0% on year to INR 22.62 billion on the back of strong revenue growth and strong regulated EBITDA in the distribution business, which was up 39.0% on year at INR 8.73 billion during the March quarter, the company said in a press release. Overall, its operating EBITDA for the reporting quarter rose 8.5% on year to INR 17.57 billion.
The company's consolidated operating margin for Jan-Mar fell to 32.0% from 34.4% in the same period a year ago.
Adani Energy Solutions saw the revenue from its transmission business for the March quarter grow nearly 36.5% on year to INR 22.47 billion. The revenue from the distribution business rose over 21.4% on year to INR 29.07 billion, while revenue from the trading business soared over 230% on year to INR 3.8 billion.
The company's consolidated net profit for the financial year 2024-25 (Apr-Mar) contracted 6.8% to INR 10.60 billion, from INR 11.37 billion in FY24. The company's consolidated revenue for FY25 rose 43.1% on year to INR 237.67 billion, from INR 166.07 billion in FY24.
The company's total expenditure in Jan-Mar, including finance costs, rose 24.2% on year to INR 54.12 billion. The cost of power purchased rose 30.1% on year to INR 13.33 billion. The cost of finance rose 10.2% on year to INR 8.26 billion. The company reported a tax outgo of INR 2.87 billion in Jan-Mar, compared to an outgo of INR 1.69 billion a year ago.
As of Mar. 31, the company's consolidated net debt stood at INR 301 billion, with average debt maturity of 6.6 years and carrying interest cost of 9.3%, the company said in its presentation.
OPERATIONAL UPDATES
Adani Energy Solutions sold 105.6 billion units of electricity in Apr-Mar, up 6% on year, the company said in a presentation on its operational performance for the March quarter. The company's capital expenditure in the reporting quarter was INR 39.7 billion, up 117% on year. For FY25, the company's total capital expenditure was INR 114.4 billion, up 104% from FY24's capital expenditure of INR 56.1 billion. The company added 695 circuit kilometres to its existing transmission network in FY25, and its total transmission network is now at 26,696 circuit kilometres.
As of Mar. 31, the company had a total of 16 operational projects worth INR 384.00 billion, with a network of 14,095 circuit kilometres. Ten projects with a network of 5,129 circuit kilometres worth INR 126.00 billion were recently commissioned. The company has 15 more projects worth INR 599.00 billion under construction with a network of 7,471 circuit kilometres in the pipeline. The company hopes to complete these projects in a phased manner by June 2029.
Other than transmission lines, the company has nine pending orders to install 22.8 million smart meters over 120 months at a cost of INR 272.00 billion. The company said its smart meter deployment is progressing well, with 3.1 million meters already installed. It plans to install 6-7 million smart meters in FY26, achieving a cumulative number of 10 million meters by the end of the current financial year.
On Thursday, shares of Adani Energy Solutions ended 2.4% higher at INR 961.70 rupees on the National Stock Exchange. End
Edited by Rajeev Pai
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