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    Adani Green Q2 Results: Cons PAT surges 2.5 times to Rs 372 crore, revenue up 40% YoY

    Synopsis

    Adani Green's Q2 consolidated net revenue from operations increased by 40% on year to Rs 2,220 crore. One of the primary factors driving the sharp rise in net profit was the other income. Other income for the quarter was Rs 369 crore, compared with Rs 100 crore a year ago.

    Adani Green Q2 cons PAT surges 2.5 times to Rs 372 cr, revenue up 40% YoY
    MUMBAI - Adani Green Energy on Monday reported robust earnings for the quarter ended September 2023, with the consolidated net profit rising 2.5 times year-on-year (YoY) to Rs 372 crore.

    Consolidated net revenue from operations increased by 40% on year to Rs 2,220 crore.

    One of the primary factors driving the sharp rise in net profit was the other income. Other income for the quarter was Rs 369 crore, compared with Rs 100 crore a year ago.

    This other income was pertaining to readjustment in the value of the land holding of SB Energy, which was not accounted for during its acquisition, pending land allotment. Such income to the tune of Rs 122 crore has been classified under "other income”, the company said.

    The operational capacity of the Adani Group company increased by 24% YoY to 8,316 MW, with addition of 1,150 MW solar-wind hybrid, 212 MW solar, and 230 MW wind power plants over the last one year.

    The sale of energy increased by 78% YoY to 11,760 million units in the six months ended September.

    Adani Green’s solar portfolio CUF stands at 25.2%, up by 90 basis points YoY, wind portfolio CUF at 40.2%, up by 360 bps, and solar-wind hybrid portfolio CUF at 45.4%, up by 880 bps.

    With an operational capacity of 8,316 MW, Adani Green Energy continues to own the largest operating renewable energy portfolio in the country.

    The robust growth in sale of energy in the April-September period was primarily backed by strong capacity addition and improved CUF across solar, wind and hybrid portfolios, the company said.

    The solar portfolio CUF improved in H1 FY24 on the back of improved plant availability and improved solar irradiation.

    The wind portfolio CUF was driven by consistent wind speed and significant improvement in grid availability.

    The solar-wind hybrid portfolio CUF improved, backed by technologically advanced solar modules, horizontal single-axis trackers and wind turbine generators as well as consistent high plant and grid availability.

    Following the strong earnings, shares of the company extended the day’s gains and rose more than 4% to Rs 908 on the National Stock Exchange.

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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