Wednesday, Aug 10, 2022
Outlook.com

Adani Green Energy December Quarter Profit Up 20% To Rs 49 Crore

Adani Green Energy, a part of India-based Adani Group, has one of the largest global renewable portfolios with an overall portfolio of 20.3 GW 3 including operating, under-construction, awarded and assets under acquisition catering to investment-grade counterparties.

  The company had reported a consolidated net profit of Rs 41 crore in December Quarter.
The company had reported a consolidated net profit of Rs 41 crore in December Quarter.

Adani Green Energy on Wednesday posted a nearly 20 per cent rise in its consolidated net profit to Rs 49 crore in the October-December quarter compared to the year-ago period mainly on the back of higher revenues.

The company had reported a consolidated net profit of Rs 41 crore in the quarter ended on December 31, 2020, a BSE filing stated.

The total income of the company rose to Rs 1,471 crore in the quarter from Rs 843 crore in the same period a year ago.

Commenting on the results, Vineet S. Jain, MD & CEO, Adani Green Energy said in a statement, "The continued robust operational performance and improving visibility of growth with firm PPA demonstrate that we are well on track to become the largest renewable player by 2030".

He further said, "Our commitment towards ESG is only getting stronger with the global recognition of our efforts to light up the world with green energy and to further incorporate the best ESG practices on all fronts."

The company sold 2,504 million units of electricity in the December quarter, up from 1,273 MU in the same period a year ago.

From April to December 2021, it sold 6,456 MU which is higher than 3,857 MU in the nine months period a year ago.

Adani Green Energy, a part of India-based Adani Group, has one of the largest global renewable portfolios with an overall portfolio of 20.3 GW 3 including operating, under-construction, awarded and assets under acquisition catering to investment-grade counterparties.

The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key
customers of AGEL include Solar Energy Corporation of India (SECI), NTPC and various state discoms.

  Listed in 2018, AGEL is a $40 billion market cap company helping India meet its COP21 goals.

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