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Electric Utilities company Adani Energy Solutions announced Q3FY24 & 9MFY24 results:
- Q3FY24:
- Revenue grew by 19.0% YoY, reaching Rs 3,615 crore, compared to Rs 3,037 crore in Q3FY23.
- Total EBITDA in Q3FY24 was Rs 1,732 crore, reflecting a marginal YoY growth of 1.4%.
- Operating EBITDA in Q3FY24 witnessed a growth of 10.4% YoY, reaching Rs 1,454 crore.
- Net Profit in Q3FY24 was Rs 348 crore, reflecting a significant YoY decrease of 27.2%, compared to Rs 478 crore in Q3FY23.
- 9MFY24:
- Over 9MFY24, revenue increased by 16.9%, reaching Rs 10,657 crore, compared to Rs 9,117 crore in 9MFY23.
- Over 9MFY24, total EBITDA increased by 3.6%, reaching Rs 4,553 crore.
- Over 9MFY24, operating EBITDA increased by 8.1%, reaching Rs 4,077 crore.
- Over 9MFY24, net profit decreased by 3.1%, reaching Rs 815 crore.
“Our growing portfolio with newly commissioned lines, coupled with favorable energy demand, continues to drive our growth. We are proud of our contribution to developing national transmission infrastructure, which is very critical to facilitating renewable evacuation, especially from the Khavda region. With humility, we welcomed the prestigious Global recognition in the form of the Sustainability Leadership Award 2023 from the World Sustainability Congress, demonstrating our outstanding leadership, commitment to reducing environmental impact, and dedication to promoting sustainable practices,” said Anil Sardana, MD, Adani Energy Solutions.
“We are very excited about opportunities in all lines of business in AESL. The smart metering segment is consistently growing besides our existing T and D established industry position. To offer smart and tech-enabled smart metering solutions, our partnership with Airtel, Esyasoft, and AdaniConnex will be very fruitful and will immensely augment our offering,” said Kandarp Patel, CEO, Adani Energy Solutions.
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