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Adani Energy Solutions Q2 profit rises 46% to Rs 284 crore

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Adani Power

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New Delhi: Adani Energy Solutions on Monday posted 46 per cent rise in consolidated net profit to Rs 284 crore for September quarter 2023-24, mainly on the back of higher revenues.

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In the year-ago period, the profit was Rs 194 crore, a company statement said.

Total revenue rose to Rs 3,421 crore in the quarter from Rs 3,032 crore in the year-ago period.

Revenue witnessed a double-digit growth in the quarter on account of various factors including customer additions, the company said.

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It said the proportion of renewable power in the total energy mix further increased to 38 per cent. The energy demand (units sold) improved by 9.5 per cent year-on-year, driven by an increase in industrial segment demand.

Distribution loss of Adani Energy Solutions Ltd (AESL) in the September quarter was at 5.81 per cent, with a higher share of e-payments at 79.2 per cent.

"Our pipeline of projects in both transmission and smart metering will further strengthen our pan-India presence and consolidate our position.

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"AESL is...pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards," Anil Sardana, Managing Director of AESL, said.

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