Shares of Adani Energy Solutions Ltd (AESL) jumped over 12% on January 14 after the firm announced its operational updates for the October-December quarter (Q3) of FY25. The shares were trading at around Rs 774 apiece at 11:05 am on January 14.
In an exchange filing, the Adani Group company announced that its transmission network length increased to 26,485 ckm in Q3, a significant rise of nearly 23% from the 20,422 ckm transmission network length reported in the same quarter of the previous financial year (Q3 FY 24). The firm's provisional power transmission capacity rose 54% year-over-year to 84,286 MVA during the quarter.
The company also announced that it has won two new projects during the quarter. These include the Khavda Phase IV Part-D which has a project cost of Rs 3,455 crore, and Rajasthan Phase III Part-I (Bhadla – Fatehpur HVDC) with a preliminary project cost of around Rs 25,000 crore. Notably, the latter project in Rajasthan is the company’s largest order win till date.
"Fully commissioned MP Package-2 transmission line which will strengthen transmission system in the eastern region of Madhya Pradesh by adding 1,088 ckm to the transmission network," the company further said. AESL also reduced distribution losses and saw a 3% YoY rise in units sold.
The new project wins in FY25 have bolstered the under-construction project pipeline to Rs 54,700 crore from Rs 17,000 crore. The company will report its Q3 results on January 23.
Most of the Adani stocks were trading in the green on January 14. Adani Enterprises jumped over 8% to trade at around Rs 2,420. Adani Ports rose 6% to Rs 1,129 while Adani Power shares rose 17% to Rs 528 apiece.
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