Adani Green Reports 58% Spike In EBITDA On YoY Basis 

Adani Green Energy Limited (AGEL) in its latest filing before the Bombay Stock Exchange (BSE) said that it reported a 7.69 percent rise in its Profit After Tax (PAT) in the latest quarter ending September 30, 2023, compared to its last quarter.

As per the details of the unaudited consolidated financial results, the renewable energy company of the Adani Group reported a PAT of Rs 273 crore in the quarter which ended on June 30 while the latest quarter saw a total PAT of Rs 294 crore. On the other hand, the firm reported a 101 percent rise in PAT on a Year-on-Year (YoY) basis. During the same quarter last year, the firm had reported a PAT of Rs 146 crore which rose upto Rs 294 crore in the last quarter. 

During the same period, its operational capacity increased by 24 percent on YoY basis to 8,316 MW with the addition of 1,150 MW of solar-wind hybrid, 212 MW solar and 230 MW of wind power plants over the last one year. It also said that the sale of solar energy from the firm increased by 78% on YoY basis. It also said that its H1 results in FY24 were overwhelming.

The report said that the EBITDA from power supply increase from Rs 2,396 crore in the H1 of the FY23 to Rs 3,775 crore in H1 of FY24. 

“The solar portfolio CUF has improved by 90 bps YoY to 25.2% in H1 FY24 with improved plant availability and improved solar irradiation. The solar portfolio CUF has improved by 90 bps YoY to 25.2% in H1 FY24 with improved plant availability and improved solar irradiation. Ø  The solar-wind hybrid portfolio CUF has improved by 880 bps YoY to 45.4% in H1 FY24 backed by technologically advanced solar modules, horizontal single-axis trackers and wind turbine generators as well as consistent high plant and grid availability,” a media statement from Adani Green said.

“The performance improvement across the board is the result of our team’s relentless efforts. In pursuit of our next milestone to create the largest RE cluster in the world in Khavda, Gujarat, we have already deployed workforce of 5,000+. At Khavda, we will be installing the most advanced TOPCon solar modules as well as India’s largest and one of the most efficient 5.2 MW wind turbines. These efforts will drive us towards achieving the lowest levelized cost of energy.” said Amit Singh, CEO, Adani Green Energy Ltd.