Adani Energy Solutions Limited (AESL) has announced its financial results for the April-June quarter, highlighting significant growth. The company reported a 47% year-on-year increase in operating revenue, reaching Rs 5,379 crore. Profit after tax surged 73% to Rs 315 crore. Operational EBITDA also saw a notable rise, climbing 29.7% to Rs 1,628 crore compared to the same period last year.
AESL noted that an exceptional item of Rs 1,506 crore related to the separation of the Dahanu Power Plant impacted net profit. This strategic move aims to meet the company’s net-zero target by 2050 and attract ESG-focused investors who had previously been hesitant due to the inclusion of Dahanu in AESL’s portfolio.
Managing Director Anil Sardana highlighted the rapid increase in power demand in AESL’s distribution areas, including AEML and MUL. He emphasized the company’s commitment to commissioning new lines and noted that renewable energy penetration in Mumbai has now reached 37%.
Also read: Adani Green Energy Q1 Results: Profit Surges 32% to Rs 1,390 Crore, Revenue Up 24%
Sardana also praised AESL’s efforts in developing critical transmission infrastructure, such as the Khavda project, strengthening existing grids, and enhancing energy efficiency through its smart metering program.
The revenue surge was attributed to the integration of new transmission assets, additional lines in ongoing projects, increased electricity demand in Mumbai and Mundra, and growth in the smart metering business. Electricity demand in Mumbai’s distribution business rose by 8%, while distribution losses remained low at 5.18%. The total consumer base expanded to 32 lakh due to reliable and cost-effective power supply.
In the transmission segment, AESL’s order book has expanded to Rs 17,000 crore, reflecting a growing pipeline of projects. Additionally, electricity demand in Adani Electricity Mumbai increased by 8% year-on-year, reaching 296.2 crore units in the first quarter of FY 2024-25.
The court’s order emphasizes the need for a thorough review to ensure that qualified women…
The Congress also committed to prioritizing domicile residents of J&K for government jobs
The court’s decision came in response to a petition from a female candidate whose medical…
The dispute involved a loan agreement between Delhi FC, Anwar Ali's parent club, and Mohun…
Typhoon Bebinca, the 13th typhoon of the year, made landfall in Shanghai at 7:30 AM…
India is investing over Rs 7,000 crore in developing an Outer Harbour Container Terminal. The…