Adani Energy Solutions Limited has announced its financial and operational results for the fiscal year ending 31 March 2024.
The company reported a notable increase in operational revenue, reaching Rs 14,217 crore, marking a 17 percent rise compared to the previous year.
Data released by the company revealed that the revenue for the fourth quarter of the fiscal year 2023-24 witnessed a robust growth of 17.4 percent year-on-year, totaling Rs 3,560 crore.
However, despite the revenue surge, the company experienced a decline in net profit.
The annual net profit decreased by 6.7 percent to Rs 1,195 crore, while the fourth-quarter net profit dropped by 13.3 percent to Rs 381 crore.
AESL attributed the revenue growth to several factors. This included:
Contributions from newly operationalized transmission assets.
Commissioning of elements at North Karanpura and MP-II package lines.
Increase in units sold due to higher energy consumption in the distribution business at Mumbai and Mundra.
Earnings Before Interest Tax Depreciation and Amortization (EBITDA) for the Adani Group company witnessed a 2.4 percent year-on-year growth, amounting to Rs 1,565 crore for Q4FY24.
Anil Sardana, Managing Director, Adani Energy Solutions highlighted the company’s achievement of an Environmental, Social, and Governance (ESG) score of 25.3 from Sustainalytics, positioning AESL among the top 20 electric utilities globally.
Sardana emphasized the company’s commitment to reducing environmental impact and promoting sustainable practices.
Furthermore, AESL announced the successful commissioning of key transmission projects in FY24.
The projects included the largest 765 kV Warora-Kurnool transmission line, aimed at strengthening the national grid and facilitating the seamless flow of 4,500 MW of power between Western and Southern regions.
Additionally, the company commissioned the 765 kV KBTL (Khavda Bhuj line) to evacuate renewable energy from Khavda, Gujarat, contributing to one of the country’s largest solar and wind farms.
Moreover, AESL completed the 400 kV Kharghar-Vikhroli double circuit transmission line, establishing the first-ever high voltage 400 kV connection in Mumbai, enabling an additional 1,000 MW power supply to the city to meet its growing electricity demand.
The completion of the Karur Transmission Ltd (KTL) project in Tamil Nadu, including the establishment of the 400/230 kV, 1000 MVA Pooling Station and associated transmission line, further underlines AESL’s commitment to developing critical transmission infrastructure and facilitating renewable energy integration.
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