Adani Green Energy net profit rises 51 pc to Rs 323 cr in Jun qtr – EQ Mag
Adani Green Energy said its revenue from operations jumped 55.04 per cent YoY to Rs 2,059 crore from Rs 1,328 crore in the same quarter last year.
Adani Green Energy Ltd on Monday said its consolidated profit grew 50.93 per cent year-on-year (YoY) to Rs 323 crore in the June quarter compared with Rs 214 crore in the same quarter last year. Revenue from operations jumped 55.04 per cent YoY to Rs 2,059 crore from Rs 1,328 crore in the same quarter last year.
Adani Green Energy said it delivered an industry-leading Ebitda margin of 92.5 per cent, up 70 basis points YoY. Cash profit for the quarter rose 55 per cent YoY to Rs 1,051 crore. Run-rate Ebitda stood at a strong Rs 7,645 crore, with net debt to run-rate Ebitda standing at 5.3 times, Adani Green Energy said.
With an operational capacity of 8,316 mw, Adani Green said it continues to have the largest operating renewable energy portfolio in the country. The sale of energy, it said, increased 70 per cent YoY to 6,023 million units in the June quarter, primarily backed by strong capacity addition.
The solar portfolio CUF improved 40 basis points YoY to 26.9 per cent in the June quarter, with consistent high plant availability and improved solar irradiation, Adani Green said. CUF stands for capacity utilisation factor.
In the case of the wind portfolio, the sale of energy jumped 34 per cent, led by capacity addition, though the wind CUF reduced primarily due to relatively lower wind speed, which was higher last year.
The solar-wind hybrid portfolio of 2,140 mw reported a strong hybrid CUF of 47.2 per cent, up 380 basis points backed by new plants with technologically advanced solar modules (including bifacial modules and horizontal single axis trackers) and wind turbines, high plant and grid availability and improved solar irradiation.
CEO Amit Singh said his company was ailing to grow its renewable power capacity to 45 GW by 2030 through Solar, Wind and Solar-Wind hybrid solutions as major contributors.
“To enable integration of renewables in the grid, round-the-clock solutions with long-term clean storage structures such as pumped hydro will be a critical part of our solution mix, contributing to a greener future and underscore our dedication to combating climate change challenges,” he said.
