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HomeNewsBusinessEarningsAdani Energy Solutions Q4 net profit falls 13% to Rs 381 crore

Adani Energy Solutions Q4 net profit falls 13% to Rs 381 crore

Earnings Before Interest Tax Depreciation and Amortisation for the Adani Group company grew 2.4 percent YoY to Rs 1,565 crore for Q4FY24 .

April 30, 2024 / 22:49 IST
Adani Energy Solutions is one of the largest private sector power transmission companies in India with a presence across all 14 states.
     
     
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    Adani Energy Solutions (earlier Adani Transmission) reported a 13.3 percent fall in net profit to Rs 381 crore for the quarter ending March 2024, compared to Rs 440 crore in the year-ago period, dragged by one-time bilateral charge and provision of Rs 6 crore and Rs 1 crore of net impact from one-time income, provision, and tax on dividend income.

    However, revenue for the reporting period for Adani Energy Solutions grew 17.4 percent YoY to Rs 3,560 crore, helped by contribution from the newly operationalized transmission assets, commissioning of elements at North Karanpura and MP-II package lines and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra.

    Earnings Before Interest Tax Depreciation and Amortisation for the Adani Group company grew 2.4 percent YoY to Rs 1,565 crore for Q4FY24 .

    Also read: Big bet gets bigger. GQG bough additional shares worth Rs 8,300 crore in Adani Group companies in March quarter

    Adani Energy Solutions is one of the largest private sector power transmission companies in India with a presence across all 14 states.  It deals with power transmissions, power distribution, smart metering, and cooling solutions.

    In March 2024, Moneycontrol had reported that Adani Energy Solutions was planning to raise around $400 million-$500 million through a private placement of bonds, for which it was in early talks with U.S. institutional investors, a company source and a banker aware of the plan said.

    The stock closed at Rs 1,064.90 on the NSE on April 30, up 0.37 percent. The stock has gained around 18 percent over the last one year.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Apr 30, 2024 10:49 pm

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