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February 11, 2025
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Adani Green Q1 Results: Profit rises 38% YoY to Rs 446 crore

Adani Green Q1 Results: Profit rises 38% YoY to Rs 446 crore

Adani Green on Thursday reported a 38% year-on-year (YoY) growth in its consolidated net profit at Rs 446 crore for the first quarter ended June 2024. The same stood at Rs 322 crore a year ago.

Revenue from operations in the reporting period increased 31% YoY to Rs 2,834 crore, compared with Rs 2,162 crore in the corresponding period of previous year.

Revenue from the power supply increased 24% YoY to Rs 2,528 crore in the first quarter as against Rs 2,045 crore posted in the previous year quarter.

EBITDA for the power supply segment increased 23% YoY to Rs 2,374 crore in the reporting period. It was Rs 1,938 crore in the same quarter of previous year.

Adani Green said the robust growth in revenue, EBITDA and cash profit is primarily driven by a capacity addition of 2,618 mw over the last year period.

Other income during the June quarter rose 17% YoY to Rs 266 crore. The same stood at Rs 228 crore in the last year quarter.

Operational capacity expanded by 31% YoY to 10.9 GW in the June quarter, which further increased to 11.2 GW post wind capacity addition of 250 MW in July 2024.

The expansion of operational capacity was driven by greenfield additions, including 2,000 MW of solar capacity in Khavda, 418 MW of solar capacity in Rajasthan and 200 MW of wind capacity in Gujarat.

Energy sales during the quarter jumped 22% YoY to 7,356 million units, propelled by robust capacity additions and strong operational performance.

“We are working relentlessly towards the development of the world’s largest single-location renewable energy plant of 30 GW at Khavda in Gujarat. To enable accelerated implementation, we have deployed advanced robotics technology for installation of solar modules, significantly enhancing productivity,” said Amit Singh, CEO of Adani Green.

Further, the company said it has developed an extensive local supply chain and established a sustained mobilization of human resources.

Adani Green has consistently generated electricity exceeding the overall annual commitment under the power purchase agreements. In FY24, the company’s PPA-based electricity generation was 111% of the annual commitment.

In the first quarter, the company has already generated 31% of the annual commitment.

On Thursday, ahead of the results announcement, Adani Green shares closed over 7% higher at Rs 1,849 on NSE.

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