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Adani Green Energy’s Net Profit Rises by 49% To Rs 149 Crores

The consolidated net profit of Adani Green Energy Limited (AGEL) increased by 49% to Rs 149 crore on the increase in operating revenue of 13.3% to Rs 1,459 crore in Q2 FY23 compared to Q2 FY22.

The consolidated net profit of Adani Green Energy (AGEL) increased by 49% to Rs 149 crore on an increase in operating revenue of 13.3% to Rs 1,459 crore in Q2 FY23 compared to Q2 FY22. According to a BSE filing, the company’s combined net profit for the quarter ending September 30, 2021, was Rs 100 crore. Total sales for the company climbed to Rs 1,686 crore in the reporting quarter from Rs 1,411 crore in the same quarter last year.

In Q2 (the second quarter) of FY23 (Fiscal Year 2023), profit before tax increased by 57.4% to Rs 170 crore from Rs 108 crore in Q2 of FY22. In Q2 FY23, Power Supply revenue increased 33% to Rs 1,107 crore from Rs 834 crore in Q2 FY22.

In Q2 FY23, Power Supply’s EBITDA improved by 52% YoY to Rs 1,131 crore. In Q2 FY23, the EBITDA margin from Power Supply was 91.4%, a 220 bps YoY (Year-on-Year) decrease.

In Q2 FY23, AGEL’s operational capacity climbed by 24% YoY to 6,724 MW from 5,410 MW in the corresponding quarter last year.

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In Q2 (the second quarter) FY23 (Fiscal Year 2023), energy sales increased by 61% YoY (Year-on-Year) to 3,067 million units.

In Q2 FY23, energy sales increased by 61% YoY to 3,067 million units. Sales of energy from the solar segment increased by 63% YoY, while sales of energy from the wind segment shrank by 9% YoY. The capacity utilisation factor (CUF) for the solar portfolio increased to 22.1% in Q2 FY23 from 21.4% in Q2 FY22.

Wind Portfolio CUF decreased from 42.9% reported in the same quarter last year to 27.3% in the second quarter. In Q2 FY23, cash profit increased by 49% YoY to Rs 1,281 crore.

The company said that the 1,315 MW greenfield commissioning and the integration of SB Energy’s 1,700 MW operating portfolio were what caused the increase in revenues.

The Energy Network Operation Center (ENOC), which provides automatic warnings and information access down to the most minute levels, also enables real-time monitoring of the company’s complete renewable portfolio.

The plant availability is optimised using this analytics-driven operations and maintenance (O&M) strategy, enabling higher energy generation and higher revenues. Additionally, it aids in reducing O&M expenses, enabling strong EBITDA margins.

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MD & CEO of Adani Green Energy, Vneet S. Jaain said that they were proud of their teams for enabling the rapid development of Madhya Pradesh’s largest wind plant as well as India’s first and the world’s largest solar-wind hybrid cluster.

MD & CEO of Adani Green Energy, Vneet S. Jaain said that they were proud of their teams for enabling the rapid development of Madhya Pradesh’s largest wind plant, which has a capacity of 325 MW, as well as India’s first and the world’s largest solar-wind hybrid cluster, both of which are 990 MW in size while making sure it is cost-effective and has high quality standards. He added that they continued to implement the newest and most cutting-edge technology to maximise energy output at a reduced cost with our aim on supplying the cheapest green electron.

Sunil Mehta has been added to the board of directors of Adani Green as a new independent, non-executive director. The business also disclosed that Sandeep Singhi has submitted his resignation from the positions of chief financial officer and key managerial staff, effective as of November 10, 2022, in order to prioritise his duties as an independent director.

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With a total portfolio of 20.4 gigawatts, Adani Green Energy (AGEL), a division of the Adani Group in India, has one of the largest global renewable energy portfolios (GW).

As part of the Adani Group’s framework for talent growth and development, Kaushal Shah, the company’s CFO and KMP, will also take on additional duties within the Group. As a result, he has resigned from his formal position as the company’s chief financial officer (CF) with effect from the end of business hours on November 10, 2022.

Besides, with effect from November 11, 2022, the board has named Phuntsok Wangyal as the company’s chief financial officer and key managerial personnel (KMP).

With a total portfolio of 20.4 gigawatts, Adani Green Energy (AGEL), a division of the Adani Group in India, has one of the largest global renewable energy portfolios (GW). The company creates utility-scale grid-connected solar and wind farm projects and then constructs, owns, runs, and maintains them.

Edited by Prakriti Arora

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