The company said that consolidated revenue in Q2 FY24 witnessed due to double-digit growth on account of incremental revenue from newly commissioned lines, (WKTL, JKTL, WRSS, and LBTL), commissioning of elements at NKTL and MP-II lines, an increase in energy consumption in the Mumbai distribution business (AEML), and new customer additions.

Profit before tax stood at Rs 369.87 crore in Q2 FY24, up 47.98% as against with Rs 249.95 crore posted in Q2 FY23.

EBITDA stood at Rs 1,443 crore in Q2 FY24, registering the growth of 6% as compared with Rs 1,362 crore posted in corresponding quarter last year.

On the segmental front, the operational revenue from Transmission business was at Rs 941 crore (up 8.4% YoY) and the revenue from the Distribution business (AEML) stood at Rs 2,480 crore (up 14.6% YoY).

Energy demand (units sold) improved by 9.5% YoY in Q2 FY24 driven by an increase in industrial segment demand.

Distribution losses in AEML in Q2 were 5.81%, with a higher share of e-payments at 79.2%.

AEML continues to provide a unique proposition of competitive tariffs and renewable energy to its customers. The proportion of renewable power in the total energy mix further increases to 38%.

During the quarter, company stated that it has a robust and resilient business model and a strong order pipeline of Rs 1.50 crore in transmission business and Rs 2.30 crore in smart metering business.

Anil Sardana, MD, Adani Energy Solutions (ASEL), said, “AESL’s growth trajectory remains significant despite a challenging macroeconomic environment. Our pipeline of projects in both transmission and smart metering will further strengthen our pan-India presence and consolidate our position. AESL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards.”

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 0.99% to Rs 763.60 on the BSE.