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Adani Green Energy logs 51% y-o-y growth in Q1 net profit; stock adds ~1%

1 Aug 2023 , 10:22 AM

Adani Green Energy announced its results for the quarter ended June 2023, and recorded a total net profit of Rs 323 crore for the quarter, up 50.93% against Rs 214 crore in the previous corresponding quarter.

The company said that its total revenue was Rs 2,404 crore in Q1FY24, compared to Rs 1,701 crore in the same quarter previous year, up by 41.32% y-o-y.

The company’s revenue from power supply increased by 55% year-on-year to Rs 2,059 crore. EBITDA from power supply climbed by 53% year-on-year to Rs 1,938 crore, with a 92.5% EBITDA margin.

The development of 1,750 MW solar-wind hybrid, 212 MW solar, and 554 MW wind power plants during the last year has increased operational capacity by 43% to 8,316 MW, said the company.

Revenue, EBITDA, and cash profit have all increased significantly in the recent year, owing to a capacity addition of 2,516 MW. AGEL’s best-in-class O&M practices enable it to achieve higher electricity generation at lower O&M companies, resulting in consistent industry-leading EBITDA margins, the business stated.

At around 10.20 AM, Adani Green Energy was trading 0.90% higher at Rs 1,103.10 per piece, against the previous close of Rs 1,093.30 on NSE.

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  • Adani Green
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