Adani Green Energy Ltd. reported a jump in its net profit for the quarter ended March.
Revenue for the renewable power producer company was at Rs 2,598 crore, which is a 78% rise. Net profit for the period under review jumped to Rs 507 crore as compared with Rs 121 crore over the same period in the previous fiscal, according to its exchange filing.
Adani Green Energy Q4 FY23 Highlights (Consolidated, YoY)
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Revenue up 78% at Rs 2,598 crore vs Rs 1,461 crore.
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Ebitda rises 132.9% at Rs 2,264 crore vs Rs 972 crore.
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Ebitda margin at 87.1 vs 66.5%.
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Net profit up 319% at Rs 507 crore vs Rs 121 crore.
The sale of energy has increased by 58% year-on-year to 14,880 million units in FY23, primarily backed by strong capacity addition, analytics-driven O&M enabling high plant availability and deployment of latest renewable technologies, according to the exchange filing.
“Our business model has demonstrated remarkable resilience as evidenced by our strong financial performance,” said Gautam Adani, chairman of Adani Group.
“We are leaders in the green energy space and have consistently set new industry standards in efficiency, performance and capacity development. We are expediting the transition to sustainable energy and playing a pivotal role in fulfilling India’s obligations to a greener future, Adani said.
Shares of the company closed 3.67% higher at Rs 950.60 on Friday, as compared with a 0.84% gain in the benchmark NSE Nifty 50. Markets were closed on Monday.
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