Ahmedabad (Gujarat) [India], July 25 (ANI): Adani Energy Solutions has reported a 47 per cent yearly rise in its consolidated revenue from operations in the April-June quarter. The consolidated revenues were at Rs 5,379 crore, the company earnings data released today showed.
The company announced its financial results for the quarter ending June 2024 on Thursday.
The company’s operational EBITDA grew 29.7 per cent on a yearly basis to Rs 1,628 crore. The company’s adjusted Profit After Tax of Rs 315 crore increased by 73 per cent on a yearly basis.
As per a company statement, the revenue growth of 47 per cent was on account of the contribution from the newly operationalized transmission assets, line addition at under-construction projects and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra and contribution from smart metering business.
During the quarter, the company completed acquisition of Mahan Sipat transmission assets thereby adding 673 (circuit kilometre) ckm to its operational network.
Within the transmission segment, the company added multiple projects to its pipeline in the recent quarters expanding the order book to Rs 17,000 crore for transmission projects.
The company remains excited about the strong near-term transmission pipeline upwards of Rs 90,000 crores in Tariff Based Competitive Bidding (TBCB) tendering.
“AESL remains steadfast with commissioning of new lines, along with strong energy demand growth in its distribution areas of AEML and MUL…We take pride in our contribution to developing critical transmission infrastructure, to facilitate renewable evacuation (e.g. Khavda) and as well as strengthening the existing grid and driving energy efficiency in India through its smart metering program,” said Anil Sardana, MD, Adani Energy Solutions.
AEML (Adani Electricity Mumbai Limited), the Mumbai distribution business witnessed an increase in the energy consumed by 8 per cent. Its distribution losses of 5.18 per cent remains low and the utility added new consumers, reaching 3.2 million on the back of reliable and affordable power supply.
AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. AESL is the country’s largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 21,187 ckm and 57,186 MVA transformation capacity. (ANI)
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