Adani Green Q3 Result: Revenue surges 53% along with PAT increasing 110%

8 Feb 2023 , 09:13 AM

Compared to the same period a year ago, Adani Green Energy’s consolidated net profit after tax more than doubled to Rs103 crore for the December quarter, growing 110%.

The third quarter’s total revenue increased 53% to Rs2,258 crore from Rs1,471 crore in the similar quarter last year.

Compared to the same quarter last year, electricity supply revenue jumped 29% to Rs1,260 crore from Rs973 crore. Additionally, sales revenue from goods and associated services increased 47% year over year (YoY) to Rs699 crore.

In the months of April through December of FY23, the company put 1,915 MW of renewable energy projects into service, including 150 MW of solar power in Rajasthan, 1,440 MW of solar-wind hybrid plants, and the largest wind power facility in Madhya Pradesh at 325 MW.

To further bolster the pipeline, Adani Green has also signed PPAs for 450 MW wind and 50 MW solar projects with SECI for the third and first quarters of the current fiscal year, respectively.

As of December, the capacity utilization factor (CUF) for the Solar portfolio stood at 24%, an increase of 140 basis points from the previous year. The one-time transmission outage for a 150 MW facility in Gujarat was the main cause of the wind portfolio CUF’s decrease of 610 basis points to 27.1% from the prior year. The plant has now recovered completely.

10,235 million units of energy are sold, up 59% year over year.

According to the company, the newly installed solar-wind hybrid plants, which have a combined capacity of 1,440 MW, ‘deploy the latest technologies such as bifacial PV modules and horizontal single-axis tracking (HSAT) technology to capture maximum energy from the sun as well as technologically advanced wind turbine generators leading to a high hybrid CUF.’

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