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HomeNewsBusinessEarningsAdani Green Energy Q1 net profit jumps 51% to Rs 323 crore

Adani Green Energy Q1 net profit jumps 51% to Rs 323 crore

The company said its revenue from power supply was up by 55 percent YoY at Rs. 2,059 crore.

July 31, 2023 / 15:18 IST
Earnings before interest, taxes, depreciation, and amortization (EBITDA) from power supply increased by 53 percent YoY to Rs 1,938 Cr with a high EBITDA margin of 92.5 percent.
     
     
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    Adani Green Energy on July 31 reported a consolidated net profit of Rs 323 crore for the quarter ended June 2023, up 50.93 percent from Rs 214 crore last year.

    The company's total revenue stood at Rs 2,404 crore, up 41.32 percent from Rs 1,701 crore reported last year.

    The company said its revenue from power supply was up 55 percent on-year at Rs. 2,059 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) from power supply increased by 53 percent YoY to Rs 1,938 Cr with a high EBITDA margin of 92.5 percent.

    Operational Capacity increases by 43% to 8,316 MW YoY with addition of 1,750 MW solar–wind Hybrid, 212 MW solar and 554 MW wind power plants over the last one year.

    Solar portfolio Capacity Utilisation Factor (CUF) at 26.9 percent with 40 basis points improvement YoY, the company said. Wind portfolio CUF at 38.7 percent with 830 basis pints reduction YoY.

    The reduction is primarily due to relatively lower wind speed, which
    was higher last year. Overall Hybrid portfolio CUF stands at a strong 47.2 percent. Sale of Energy increases by 70 percent YoY at 6,023 million units in Q1FY24 versus 3,550 million units in Q1 FY23.

    “The robust growth in revenue, EBITDA and cash profit is primarily driven by capacity addition of 2,516 MW over the last one year. The consistent industry-leading EBITDA margin is driven by AGEL’s best-in-class O&M practices enabling it to achieve higher electricity generation at lower O&M companies,” said the company.

    first published: Jul 31, 2023 02:57 pm

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