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Home›Wind Farm Stocks›Adani Green Energy Q2 results: Adani Green Energy Q2 results: net profit jumps nearly six times to Rs 100 cr

Adani Green Energy Q2 results: Adani Green Energy Q2 results: net profit jumps nearly six times to Rs 100 cr

By Marquerite Oaks
February 6, 2023
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New Delhi: Ltd (AGEL) on Thursday posted an almost six-fold increase in its consolidated net profit to Rs 100 crore in the September quarter thanks to higher revenues. The company’s net profit was Rs 17 crore in the quarter ended September 30, 2020, according to a BSE file.

The company’s total income stood at Rs 1,411 crore in the second quarter of the current fiscal year, compared to Rs 718 crore in the same period a year ago.

“It is gratifying to see that the attention to climate change has continued to accelerate at a rate that has surprised everyone,” Gautam Adani, chairman of the Adani group, said in a statement.

“I think this is a good indication of the progress the world can make when it comes together to solve a global problem. significant investments that we continue to make in this business, â€he said.

The increase in power sales was supported by the addition of capacity of 2,610 MW and the improvement of the solar and wind Capacity Utilization Factor (CUF), the company said.

Energy sales increased 61% to 1,901 million units (CU) in the quarter, compared to CU 1,182 in the same period a year ago.

Likewise, solar power sales rose 41 percent to 1,430 MU in the last quarter of September, from 1,017 MU a year ago.

Wind power sales increased 185 percent to 471 MU from 165 MU during the same period.

AGEL, which is part of the Adani group, has one of the world’s largest renewable energy portfolios with an overall portfolio of 20.3 GW, comprising assets in operation, under construction, allocated and in acquisition for quality counterparts.

The company develops, builds, owns, operates and maintains large-scale grid-connected wind and solar projects.

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