Adani Energy Solutions net profit jumps 80 pc to Rs 625 cr in Q3 – EQ
In Short : Adani Energy Solutions reported an 80% surge in net profit, reaching ₹625 crore in Q3. The impressive growth was driven by increased operational efficiency and expanding infrastructure projects. The company’s robust performance highlights its focus on scaling renewable energy and power transmission, aligning with India’s energy transition and sustainability goals.
In Detail : New Delhi – Adani Energy Solutions on Thursday posted a nearly 80 per cent rise in its consolidated net profit to Rs 625.30 crore in the December quarter compared to a year ago on the back of higher revenues.
The company reported a consolidated net profit of Rs 348.25 crore in the quarter ended on December 31, 2023, a BSE filing showed.
Total income rose to Rs 6,000.39 crore in the quarter from Rs 4,824.42 crore in the same period a year ago.
Kandarp Patel, CEO, Adani Energy Solutions (AESL) said in a statement, “The key highlight of this quarter is the new project wins in AESL, which not only helps in gaining market share but also strengthens AESL’s pole position as the largest private transmission player in India.” He further stated that despite a large order book of Rs 54,761 crore in transmission and Rs 13,600 crore in smart metering, the company will continue to deliver strong operating and financial performance.
According to the statement, AESL’s Mumbai distribution business recorded a 3 per cent increase in energy consumption.
Its distribution losses of 4.66 per cent remain low and the utility added new consumers, reaching 3.17 million on the back of reliable and affordable power supply.
During the quarter, the company won two new transmission projects: Khavda Phase IV Part-D with a project cost of Rs 3,455 crore and Rajasthan Phase III Part-I (Bhadla – Fatehpur HVDC) with a preliminary project cost of Rs 25,000 crore, thereby adding 3,044 ckm to under construction network.
With five new project wins so far this year, the under-construction project pipeline has zoomed to Rs 54,761 crore in Q3FY25 (October to December 2024) from Rs 17,000 crore at the start of the year.
The company added 225 circuit kilometres (CKM) during the quarter and ended with a total transmission network of 25,778 circuit kilometres.
The smart meter deployment is progressing well with the current average run rate of 15,000 meters per day expected to reach an average of 20,000 meters per day by the next quarter, it stated.
The company was the lowest bidder in the cancelled smart metering tender of 8.2 million meters in Tamil Nadu.
The order quantity of 8.2 million meters was not part of its existing pipeline of 22.8 million meters.
The company will take part in the rebidding, it stated.
The under-implementation pipeline stands at 22.8 million smart metres, comprising nine projects with a revenue potential of over Rs 27,195 crore, it added.
Adani Energy Solutions (AESL), part of the Adani portfolio, is a multidimensional organisation with a presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.
AESL is the country’s largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 25,778 ckm and 84,186 MVA transformation capacity.
In its distribution business, AESL serves more than 12 million consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ.
