Adani Green Energy Q1 Results: Revenue Rises 67% On Higher Sales

Adani Green Energy Ltd.'s revenue from operations rose on higher power sales during the first quarter of FY23.

Revenue from power supply was up 57% to Rs 1,328 crore on higher capacity addition and improvement in wind capacity utilisation factor backed by technologically advanced wind turbine generators, the company said in a statement.

Adani Green Energy Q1 FY23 Highlights (YoY)

• Revenue from operations of the renewable energy arm of Adani Group was up 67% year-on-year to Rs 1,635 crore.

• Operating profit or earnings before interest, taxes, depreciation and amortisation fell 40% YoY to Rs 1,052 crore.

• Ebitda margin stood at 64.3% compared with 77.2% a year ago.

• Net profit for Q1 FY23 was down 2.28% to Rs 214 crore.

“With deployment of the latest technologies and analytics driven operations and maintenance, the solar and wind portfolio performance has continued to improve," Vneet S Jaain, managing director and chief executive officer at Adani Green Energy, said.

The company will continue to deploy the latest technologies "to enable higher and cost-efficient renewable energy power generation with flexible integration with the grid”, he said. "Our teams have enabled commissioning of India’s first solar-wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan, with more such projects in the pipeline."

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.