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.
These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…
Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…
Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…
After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…
A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…
PM Narendra Modi held 31 bilateral meetings and discussions during his visit to Nigeria, Brazil,…