Adani Green Energy Reports 149% Profit Surge in Q2 FY24

30 Oct 2023 , 03:24 PM

Adani Green Energy Ltd reports a substantial growth in Q2 FY24 consolidated net profit, reaching Rs 371 crore, a 148.99% increase from the year-ago figure of Rs 149 crore.

Revenue from operations also surges, rising by 79.55% to Rs 1,984 crore in the September 2023 quarter, compared to Rs 1,105 crore in the corresponding period the previous year. The company’s operational capacity expanded by 24% YoY to 8,316 MW, with the addition of 1,150 MW solar-wind Hybrid, 212 MW solar, and 230 MW wind power plants over the last year.

Energy sales saw a significant increase, rising by 78% YoY to 11,760 million units. Adani Green Energy reports improvements in capacity utilization factors (CUF) for its solar, wind, and solar-wind hybrid portfolios.

Strong revenue, EBITDA growth, and cash profit are attributed to capacity expansion and enhanced CUF, supported by best-in-class O&M practices. The company’s run-rate EBITDA reaches Rs 7,645 crore, with the net debt to run-rate EBITDA ratio at 4.99x as of September 2023, compared to 5.9x the previous year, staying within the covenant of 7.5x for Holdco bonds.

For feedback and suggestions, write to us at [e-mail]