Adani Green's Q2 Earnings Boost Sparks Investor Interest

23 Oct 2024 , 10:29 AM

Adani Green Energy’s stock is anticipated to be the subject of attention on Tuesday following the company’s announcement of a 39% increase in its consolidated net profit for the quarter ending in September 2024, from Rs 371 crore to Rs 515 crore.

The reported quarter’s operating revenue of Rs 3,376 crore represented a 30% increase over the Rs 2,589 crore reported by the company in the same quarter of the prior fiscal year.

CEO Amit Singh commented on the company’s quarterly profits, stating that substantial greenfield capacity increases and great operational efficiency are the main drivers of the company’s continued good financial performance.

With ambitions to increase our merchant and C&I exposure to 15% by 2030, our first contract signing in the C&I market demonstrates our dedication to decarbonising industries. A strong capital management strategy with the highest level of credit discipline is what propels our expansion. We fully redeemed the USD 750 million Holdco bond in accordance with our pledge after delivering the desired capacity development, which led to a systematic deleveraging,” Singh stated.

At Rs 4,518 crore, Adani Green Energy’s H1FY25 EBITDA represented a 20% YoY increase.

According to the corporate filing, it received a 5 GW solar PPA from MSEDCL, which significantly increased the contractual portfolio.

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