Adani Green Energy profit up nearly 95% to Rs 629 cr in Q1

New Delhi: Adani Green Energy on Thursday posted nearly a 95 per cent rise in consolidated net profit to Rs 629 crore for the June quarter, on the back of higher revenues.

The company reported Rs 323 crore consolidated net profit for the quarter ended on June 30, a BSE filing showed.

Total income rose to Rs 3,122 crore in the quarter from Rs 2,550 crore in the same period a year ago.

Adani Green Energy CEO Amit Singh said in the statement, "Adani Green is well on track to achieve its 2030 capacity target of 50 GW, including at least 5 GW energy storage, in the form of pumped hydro, with sites already secured and clear visibility on evacuation."

The operational capacity has expanded 31 per cent to 10,934 MW, with greenfield additions, including 2,000 MW of solar capacity in Khavda, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat, the statement said.

The energy sales increased 22 per cent to 7,356 million units from 6,023 MU in the year-ago period.