AHMEDABAD: Adani Green Energy Limited, the renewable energy arm of ports to power conglomerate, Adani Group, on Monday posted a 148% rise in its consolidated net profit for the third quarter of FY 2024. Backed by improved capacity utilisation factor (CUF) and capacity additions, the company posted a robust growth in revenue, EBITDA and cash profit.
The company’s consolidated net profit stood at Rs 256 crore during the quarter as compared to Rs 103 crore in the corresponding quarter of FY 2023.
AGEL reported revenue from operations in the third quarter increased 17% to Rs 2,311 crore, compared with Rs 1,971 crore in the corresponding quarter of last year.
Amit Singh, CEO, AGEL, said, “With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well-secured growth path to the targeted 45 GW capacity by 2030. We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localization, digitalization at scale, workforce expansion and competency building. We are working on the world’s largest renewable power plant at Khavda in Gujarat.”
AGEL has a portfolio of 19,834 megawatt (MW) and its operational capacity grew at 16% YoY to 8,478 MW with greenfield addition of 700 MW solar-wind hybrid, 304 MW wind and 150 MW solar projects.
The company’s consolidated net profit stood at Rs 256 crore during the quarter as compared to Rs 103 crore in the corresponding quarter of FY 2023.
AGEL reported revenue from operations in the third quarter increased 17% to Rs 2,311 crore, compared with Rs 1,971 crore in the corresponding quarter of last year.
Amit Singh, CEO, AGEL, said, “With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well-secured growth path to the targeted 45 GW capacity by 2030. We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localization, digitalization at scale, workforce expansion and competency building. We are working on the world’s largest renewable power plant at Khavda in Gujarat.”
AGEL has a portfolio of 19,834 megawatt (MW) and its operational capacity grew at 16% YoY to 8,478 MW with greenfield addition of 700 MW solar-wind hybrid, 304 MW wind and 150 MW solar projects.