Adani Green Energy Records 85% Surge In Net Profit To ₹474 crore In Q3 FY24

Adani Green Energy Ltd (AGEL) reported an 85% increase in consolidated net profit, reaching ₹474 crore in the December quarter, compared to ₹256 crore in the same period last year. The rise was driven by higher revenues from power supply.Revenue from power supply grew to ₹1,993 crore in Q3 FY24, up from ₹1,765 crore in Q3 FY23, according to a BSE filing.

CEO Amit Singh highlighted the company’s progress in developing large renewable energy (RE) plants. “We are steadily developing the world’s largest RE plant in Khavda, Gujarat, along with large-scale plants in Rajasthan and other locations,” he said. Singh also noted the company’s updated strategy to deploy Battery Energy Storage Systems (BESS) due to recent cost declines.

BESS, Singh explained, will play a critical role in grid integration and supporting renewable energy growth. It complements AGEL’s solar, wind, and hydro pumped storage projects.

AGEL’s operational capacity increased by 37% year-on-year to 11,609 MW, with 3,131 MW of new plants added. The company accounted for 15% of India’s utility-scale solar and 12% of wind installations in 2024.

The company recorded a 23% year-on-year rise in energy sales, reaching 20,108 million units from April to December 2024. This growth was supported by significant capacity additions.

Adani Green Energy’s continued expansion underscores its commitment to renewable energy leadership in India.

Also Read: Adani Energy Solutions Reports 80% Surge In Q3 PAT To Rs 625 Crore