Adani Green Energy Cash Profit Surges 48% To ₹ 680 Crore In June Quarter – EQ Mag Pro
Adani Green Energy Ltd (AGEL) said its cash profit surged by 48 per cent year-on-year to ₹ 680 crore for the quarter ended June 30, 2022.
Ahmedabad (Gujarat): Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, on Tuesday said its cash profit surged by 48 per cent year-on-year to ₹ 680 crore for the quarter ended June 30, 2022.
During the quarter under review, the company’s operational capacity rose by 65 per cent year-on-year to 5,800 MW.
The company’s revenue from power supply rose by 57 per cent YoY to ₹ 1,328 crore.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) from power supply increased by 60 per cent YoY to ₹ 1,265 crore with a consistent EBITDA margin of 92 per cent.
Robust growth in revenue and EBITDA from the power supply is backed by capacity addition, improved solar and wind CUF and high hybrid CUF.
Adani Green Energy Ltd said in a statement, “consistent EBITDA margin backed by high solar, wind and hybrid CUF and cost efficiencies brought in through real-time centralized monitoring through Energy Network Operation Centre.”
“With the deployment of the latest technologies and analytics-driven O&M, AGEL’s Solar and Wind portfolio performance has continued to improve. We are further proud of our teams that have enabled the commissioning of India’s first solar-wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan, with more such projects in the pipeline,” said Vneet S Jaain, MD & CEO, Adani Green Energy Ltd, said in a statement.
We will continue to deploy the latest technologies to enable higher and cost-efficient RE power generation with flexible integration with the grid,” he said.
“Simultaneously, we are striving to increase our ESG efforts with which our commitment to light up a sustainable future is only growing stronger. We will continue our journey towards strengthening the governance standards that we began with revision in the board committee charters in favour of more independent director representation and formation of new committees.”