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Adani Green Energy, the renewable power major, on Monday reported a 142 per cent rise in net profit to Rs 1,365 crore in the March quarter when compared to the same period of previous financial year (FY22). Its revenues were up by 89 per cent to Rs 2,130 crore in the same quarter.
In a statement, the company said its sale of energy has increased by 58 per cent to 14,880 million units in the FY23 mainly due to strong capacity addition, analytics driven O&M enabling high plant availability and deployment of latest renewable technologies.
AGEL has added an additional 2,676 MW renewable capacity to its operational fleet in FY23, which includes 2,140 MW solar-wind hybrid plants in Rajasthan, 325 MW wind power plant in Madhya Pradesh and 212 MW solar power plants in Rajasthan.
For the year, the company reported an EBITDA of Rs. 5,538 crore, up by 57 percent on a year on year basis.
AGEL said it has signed PPAs for 450 MW wind projects and 650 MW solar projects with SECI in FY23 further strengthening the firm project pipeline.
“Our business model has demonstrated remarkable resilience as evidenced by our strong financial performance,” said Gautam Adani, Chairman, Adani Group.
“We are leaders in the green energy space and have consistently set new industry standards in efficiency, performance and capacity development. We are expediting the transition to sustainable energy and playing a pivotal role in fulfilling India’s obligations to a greener future,” the chairman said.
