Q2 Results: Adani Green Reports Surge In Net Profits, Revenue

Q2 Results: Adani Green Reports Surge In Net Profits, Revenue

Indian renewable energy company Adani Green Energy Limited (AGEL) today announced its financial results for the second quarter (Q2) of FY25 and H1. The latest consolidated results indicated a 39 percent jump in its net profit on an yearly basis. However, on a quarterly basis, the net profit for the firm went down by 18%.

The company meanwhile reported a surge in its total revenues both, on QoQ and on YoY. The company reported a total revenue of Rs 3,376 crore. This is against the total revenue of Rs 3,100 crore in Q1FY25 and Rs 2,589cre in Q2Fy24. Thus, on a YoY basis, the firm reported a rise of 30% in its total revenue. On the other hand, on a QoQ basis, the firm reported a rise in its revenue by 9%.

Amit Singh, CEO of Adani Green Energy Ltd, stated “Our financial performance continues to be strong, driven by significant greenfield capacity additions and robust operational efficiency. Entering the C&I space by signing our first contract underscores our commitment to decarbonizing industries, with plans to expand our merchant and C&I exposure to 15% by 2030. Our growth is driven by a robust capital management plan with utmost credit discipline. Having delivered the intended capacity growth, we completely redeemed the USD 750 mn Holdco bond in line with our commitment, resulting in systematic deleveraging.”

He further said “We remain focused on best-in-class sustainability and governance practices, and the reaffirmation of our top rankings by global ESG rating agencies only strengthens our resolve to deliver sustainable and industry-leading growth. Adani Green is well on track to achieve its 2030 RE capacity target of 50 GW, including at least 5 GW of energy storage.”

The company said that in the first Half (H1) of the current financial year, the firm reported a rise in its operational capacity by 34% to 11,184 MW with greenfield additions, including 2000 MW of solar capacity and 250 MW of wind capacity in Khavda, 418 MW of solar capacity in Rajasthan and 20 MW of wind capacity in Gujarat.