Adani Green Energy Q3 net profit jumps to INR 256 cr

Source : PTI | New Delhi: Adani Green Energy on Monday posted an over 148 % jump in consolidated net profit to INR 256 crore in the three months ended December 2023, mainly on the back of higher revenues. The consolidated net profit of the company was at INR 103 crore in the year-ago period, according to a regulatory filing.

Total income rose to INR 2,675 crore in the third quarter of the current fiscal from INR 2,256 crore in the same period a year ago.

“With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well secured growth path to the targeted 45 GW capacity by 2030.

“We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localisation, digitalisation at scale, workforce expansion and competency building,” Amit Singh, CEO of Adani Green Energy, said in a statement.

Further, he said the company is working on the world’s largest renewable power plant at Khavda in Gujarat.

The company’s operational capacity grew 16 % Y-o-Y (Year-on-Year) to 8,478 MW with greenfield addition of 700 MW solar-wind hybrid, 304 MW wind and 150 MW solar projects.

The sale of energy increased 59 % Y-o-Y to 16,293 million units during the April-December 2023 period, primarily backed by strong capacity addition and improved CUF (Capacity Utilisation Factor).

In the nine months ended December 2023, the solar portfolio CUF remained stable at 24 %, wind portfolio CUF improved to 32.2 % and the CUF of solar-wind hybrid portfolio improved to 41.5 %.