On January 29, more than 900 companies were slated to unveil their financial results for the third quarter, including industry leaders such as Aditya Birla Sun Life AMC Ltd, Adani Green Energy Ltd, Bajaj Finance Limited, Bharat Electronics Ltd, GAIL (India) Ltd, ITC Ltd, Larsen & Toubro Ltd, Marico Ltd, NTPC Ltd, Piramal Enterprises Ltd, SRF Ltd, Sun Pharmaceutical Industries Ltd, Tata Motors Ltd, UPL Limited, and Whirlpool of India Ltd.
Adani Green Energy Q3 Results
This Monday witnessed Adani Green Energy posting over 148 percent jump consolidated net profit at 256 crore for the three months which ended December 2023.
Notably, this growth is mainly on the back of higher revenues.
This is of great significance as just a year ago, the consolidated net profit for the company stood at Rs 1 crore, as per a regulatory filing.
When it comes to the total income, it has risen to Rs 2,675 crore in the third quarter of the current fiscal which was Rs 2,256 crore during the same period a year ago.
In a statement, Adani Green Energy CEO, Amit Sing said, “With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well secured growth path to the targeted 45 GW capacity by 2030.”
Ramp Up In Execution Capability
Singh further added, “We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localisation, digitalisation scale, workforce expansion and competency building.”
He noted that this Indian renewable energy firm is working on the world’s largest renewable power plant at Khavda in Gujarat.
In the meantime, the company’s operational capacity has risen 16 percent Y-o-Y (Year Year) to 8,478 MW.
The firm has introduced 700 MW solar-wind hybrid, 304 MW wind and 150 MW solar projects, during this time.
For the April-December 2023 period, the sale of energy increased by 59 percent Y-o-Y to 16,293 million units.
This growth is mainly backed by strong capacity addition and improved CUF (Capacity Utilization Factor).
Moreover, the solar portfolio CU remained stable at 24 per cent during the nine months ended December 2023.
Also, wind portfolio CUF improved to 3 cent and the CUF of solar-wind hybrid portfolio improved to 41.5 cent for the same period.
