The company said that consolidated revenue in Q1FY24 witnessed due to double-digit growth on account of incremental revenue from newly commissioned lines, partial commissioning of a few elements, and an increase in energy consumption in the Mumbai Distribution business.

EBITDA stood at Rs 1378 crore, registering the growth of 4% as compared with Rs 1,326 crore in Q1 FY23.

On the segmental front, the operational revenue of the Transmission business was at Rs 884 crore (up 6% YoY) and the revenue from the Distribution business (AEML) stood at Rs 2,738 crore (up 24% YoY).

Energy demand (units sold) improved by 8% YoY in Q1FY24, driven by a marginal increase in commercial segment demand.

Distribution losses in AEML in Q1 were 4.85%, with a higher share of e-payments at 78.5%. The distribution loss fell steeply due to seasonal factors like higher billing days.

AEML continues to provide its customers with a unique proposition of competitive tariffs and renewable energy, which constitute more than 30% of their energy mix.

Anil Sardana, MD, Adani Energy Solutions(ASEL), said, “AESL's growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India.

Adani Transmission (ATL) is the transmission and distribution business arm of the Adani Group. ATL is the country's largest private transmission company with a cumulative transmission network of 19,778 ckm, out of which 15,926 ckm are operational and 3,852 ckm are at various stages of construction.

The scrip rose 0.85% to Rs 821.80 on the BSE.