You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Adani Green Q2 PAT soars to Rs 100 cr

Capital Market 

On a consolidated basis, Adani Green Energy's net profit soared 488.23% to Rs 100 crore on a 96.51% surge in total income to Rs 1,411 crore in Q2 FY22 over Q2 FY21.

Revenue from Power Supply jumped 58% to Rs 834 crore in Q2 September 2021 as compared to Rs 530 crore in Q2 September 2020. Robust growth in revenue from Power Supply was backed by strong growth in capacities and improved Solar and Wind CUF. EBITDA from Power Supply grew 61% to Rs 787 crore in Q2 FY22 from Rs 490 crore in Q2 FY21. EBITDA margin of Power Supply improved to 93.6% during the quarter over 92.1% in the corresponding quarter, last year. Continued growth in EBITDA from Power Supply and Cash Profit was supported by increase in revenues and cost efficiencies brought in through analytics driven O&M. Cash profit surged 61% to Rs 401 crore in Q2 September 2021 from Rs 250 crore in Q2 September 2020.

Gautam Adani, the chairman of the Adani Group, said, "It is gratifying to see that the focus on climate change has continued to accelerate at a pace that has taken everybody by surprise. I believe this is a good indication of the progress the world can make when it combines forces to solve a global problem. Our journey towards becoming the world's largest renewables player and further increasing the gap as the world's largest solar player is manifested in the very significant investments that we continue to make in this business."

Sale of Energy (Solar + Wind) soared 61% to Rs 1,901 crore in Q2 FY22 as compared to Rs 1,182 crore in Q2 FY21. Sale of Energy increase was backed by capacity addition of 2,610 MW (mega-watt) and improved Solar and Wind CUF. Solar portfolio CUF stood at 21.7% in Q2 FY22 as against 20.7% in Q2 FY21. Wind Portfolio CUF stood at 42.9% in Q2 FY22 over 30.3% in Q2 FY21. Solar CUF improvement was backed by significant improvement in grid availability and consistently high plant availability of 100%. Wind CUF improvement backed by technologically advanced and more efficient newly added Wind Turbine Generators, improved plant availability of 96% and improved wind speed.

Shares of Adani Green Energy lost 4.84% to Rs 1,147.15 on BSE. Adani Green Energy has one of the largest global renewable portfolios with 19.8 GW (giga-watts) of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 28 2021. 15:45 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU