Adani Green Energy net profit jumps 149% to Rs 371 crore in Q2

New Delhi: Adani Green Energy on Monday posted nearly 149 per cent rise in its consolidated net profit at Rs 371 crore in the July-September quarter, compared to a year ago, mainly due to higher sales.

The consolidated net profit of the company stood at Rs 149 crore in the quarter ended on September 30 last year, a BSE filing showed.

Total income rose to Rs 2,589 crore in the reporting quarter from Rs 1,684 crore in the same period a year ago.

The sale of energy increased to 5,737 million units (MU) during the period from 3,067 MU in the year-ago quarter.

The sale of energy has increased by 78 per cent YoY (year on year) to 11,760 MU in H1 FY24 (April-September 2023), primarily backed by strong capacity addition and improved CUF (capacity utilisation factor) across solar, wind and hybrid portfolios, the company stated.

"In pursuit of our next milestone to create the largest RE cluster in the world in Khavda, Gujarat, we have already deployed workforce of 5,000-plus. At Khavda, we will be installing the most advanced TOPCon solar modules as well as India's largest and one of the most efficient 5.2 MW wind turbine. These efforts will drive us towards achieving the lowest levelised cost of energy," said Amit Singh, CEO, Adani Green Energy.

Adani Green Energy, a part of India-based Adani Group, has one of the largest global renewable portfolios with overall locked-in portfolio of 20.4 GW including operating, under-construction and awarded projects.