Adani Green Energy's Net Profit Soars 95% to Rs 629 Crore in Q1

Adani Green Energy Ltd (AGEL) reported a significant increase in its consolidated net profit for the first quarter, rising nearly 95% to Rs 629 crore. The surge in profit is attributed to the addition of 2,618 megawatts of capacity over the past year, improved operational efficiency, and real-time monitoring of renewable plants, which enhanced plant availability and power generation. The company's total income for the quarter rose to Rs 3,122 crore from Rs 2,550 crore in the same period the previous year. Energy sales increased by 22% year-on-year to 7,356 million units, partly due to a severe heatwave that boosted power demand.

AGEL's EBITDA grew by 23% to Rs 2,374 crore, and cash profit saw a 32% year-on-year increase to Rs 1,390 crore. Total revenue for the company increased by 24% to Rs 2,528 crore. The company is actively working towards its ambitious 2030 target of achieving 50 gigawatts of capacity, including at least 5 GW of energy storage. Notably, AGEL has operationalized the first 250 MW wind capacity at what will be the world’s largest 30,000 MW renewable power plant in Khavda, Gujarat. The company's shares rose nearly 8% following the announcement of the quarterly results.