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Adani Green Energy’s cash profit up 48 per cent to Rs 680 crore in June quarter

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Adani Green Energy Q1 cash profit up 48 per cent to Rs 680 crore

Ahmedabad (Gujarat):

Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, on Tuesday said its cash profit grew 48 per cent year-on-year to Rs 680 crore for the quarter ended June 30, 2022.

The company’s operating capacity grew 65 per cent year-on-year to 5,800 MW during the quarter under review.

The company’s revenue from power supply grew 57 per cent year-on-year to Rs 1,328 crore.

Earnings before interest, taxes, depreciation and amortization (EBITDA) from power supply grew 60 per cent year-on-year to Rs 1,265 crore, with a consistent EBITDA margin of 92 per cent.

Strong growth in revenue and EBITDA from power supply is supported by capacity addition, improved solar and wind CUF and higher hybrid CUF.

“Consistent EBITDA margins backed by high solar, wind and hybrid CUFs and cost efficiencies brought in through real-time centralized monitoring through the Energy Network Operations Center,” Adani Green Energy Ltd said in a statement.

“With the deployment of the latest technologies and analytics-driven O&M, AGEL’s solar and wind portfolio performance continues to improve. We are further proud of our teams that have completed the commissioning of India’s first solar-wind hybrid capacity of 390 MW in Jaisalmer. Vineet S Jain, MD and CEO, Adani Green Energy Ltd., said in a statement, “Rajasthan is in the pipeline with more such projects.”

We will continue to deploy the latest technologies to enable high and cost effective RE power generation with flexible integration with the grid.”

“At the same time, we strive to enhance our ESG efforts with which our commitment to lighting a sustainable future only gets stronger. We will continue our journey towards strengthening the standards of governance, which We started with amendments to the board committee charters, independent directors representation and formation of new committees.”

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