Adani Energy posts 46% y-o-y growth in Q2 net profit at Rs 284 crore

7 Nov 2023 , 12:05 PM

Adani Energy Solutions reported a 46 percent year-on-year (YoY) increase in consolidated net profit to Rs 284.09 crore in Q2FY24 on November 6. The electric power distribution firm, formerly known as Adani Transmission, increased revenue by 15% year-on-year to Rs 3,497 crore in Q2FY24.

EBITDA registered growth of 6% to Rs 1,443 crore in the July-September quarter. The company stated that it has a net consolidated debt of Rs 29,000 crore as of September 30.

In Q2FY24, revenue from the company’s transmission business increased 17% year-on-year to Rs 1,017.35 crore. At the same time, the company’s income from Generation, Transmission, and Distribution climbed 14% year-on-year to Rs 2,479.65 crore.

With a presence in 14 states, Adani Energy Solutions is the country’s largest private transmission provider. Adani Energy Solutions recently announced that the Karur Transmission Ltd (KTL) project in Tamil Nadu has been successfully commissioned. The business added 219 ckm to the operational network in Q2, bringing the total network to 19,862 ckm.

At around 12.02 PM, Adani Energy Solutions was trading 0.21% lower at Rs 770.25, against the previous close of Rs 771.85 on NSE.

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