Adani Green Energy Q1 Results- Revenue Up 22% YoY

Adani Green Energy, the renewable developer arm of the Adani Group, has announced its Q1 results for Fy24-25.

In the April June period, the firm recorded a topline of Rs 3122 crores, a 22% jump over the Rs 2550 crores recorded in the corresponding quarter last year. On a sequential quarter basis too, the firm grew a healthy 10.6% over the previous quarter, when it had recorded a turnover of Rs 2823 cro es.

Profits for the green energy developer came in at Rs 683 crores during the quarter, a massive 210% jump over the same quarter last year when it had recorded profits of Rs 220 crores. Profits in the previous (sequential) quarter were Rs 330 crores.

The Group’s total renewable generation operational capacity stood at 10,934 MW as at 30th June, 2024 whereas the same was 8,316 MW as at 30th June, 2023. As at 31st March, 2024, the Group operational capacity was 10,934 MW. This looks set to climb further this quarter as it has commissioned a 250 MW wind project earlier this week.

The profits include share of profits of Rs 180 crores from associate and Joint Venture firms, a significant jump of  260% over the RS 50 crores it received from such firms in the corresponding quarter. In the previous quarter, it had received just Rs 45 crores on the same account.

Considering some key legal wins in the Fy24 year for the firm that led to one time income accruals, the firm seems well set for a strong run from its operational portfolio that will expand to cross 12 GW this financial year.

The results seem to have been received well, as they were released during market hours, with the firm’s stock climbing over 6% to Rs 1820 after the announcement.