Profit before tax stood at Rs 276 crore in the first quarter, up 5.7% from Rs 261 crore recorded in the same period last year.

Revenue from Power Supply jumped 57% to Rs 1,328 crore in Q1 FY23 as compared to Rs 848 crore in Q1 FY22. The EBITDA from Power Supply soared 60% to Rs 1,265 crore in the quarter ended 30 June 2022 as against Rs 789 crore posted in Q1 FY22.

The company said that robust growth in revenue and EBITDA from power supply is backed by capacity addition, improved solar and wind CUF and high hybrid CUF.

The company reported a consistent EBITDA margin from Power Supply of 92% in Q1 FY23. Consistent EBITDA margin backed by high solar, wind and hybrid CUF and cost efficiencies brought in through real time centralized monitoring through Energy Network Operation Center.

Cash profit stood at Rs 680 crore in Q1 FY23, registering a growth of 48% from Rs 460 crore reported in Q1 FY22.

AGEL's operational capacity jumped 65% to 5,800 megawatt (MW) in Q1 FY23 as compared to 3,520 MW recorded in the corresponding quarter previous year.

The sale of energy climbed 73% YoY at 3,550 million units in Q1 FY23 as against 2,054 million units posted in Q1 FY22 (where solar segment surged 67% YoY and wind segment grew 65% YoY). Solar portfolio CUF (Capacity Utilization Factor) improved to 26.5% in Q1 FY23 as against 25% recorded in Q1 FY22. Wind Portfolio CUF stood at 47% in Q1 FY23 over 38.5% reported in the corresponding quarter previous year. Improvement in Wind CUF is backed by technologically advanced WTGs, improved plant availability now at 96% and improved wind speed.

High Solar-Wind Hybrid portfolio CUF stood at 43.4% in Q1 FY23. High Solar-Wind Hybrid CUF is backed by technologically advanced solar modules and WTGs, high plant availability of ~ 100% and high grid availability of ~ 100%.

Investment of approximately USD 500 million received from Abu Dhabi based International Holding Company PJSC (IHC) as primary capital in AGEL. This helps deleverage the balance sheet, strengthen the credit rating profile thereby helping reduce the cost of capital and support future growth, the company stated.

Vneet S. Jaain, MD & CEO of Adani Green Energy, said, “With deployment of the latest technologies and analytics driven O&M, AGEL's Solar and Wind portfolio performance has continued to improve. We are further proud of our teams that have enabled commissioning of India's first solar - wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan with more such projects in pipeline. We will continue to deploy the latest technologies to enable higher and cost efficient RE power generation with flexible integration with the grid.”

He further added, “Simultaneously, we are striving to increase our ESG efforts with which our commitment to light up a sustainable future is only growing stronger. We will continue our journey towards strengthening the governance standards that we began with revision in the board committee charters in favour of more independent director representation and formation of new committees.”

Adani Green Energy (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios with overall portfolio of 20.4 gigawatt (GW). The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.