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Revenue from operations rose 16.7% to Rs 3,824.43 crore in Q3 FY24 as compared with Rs 3,277.03 crore in Q3 FY23, on account of the newly commissioned transmission projects and higher energy consumption in the distribution business.
Profit before tax stood at Rs 514.65 crore in Q3 FY24, up 14.27% as against with Rs 600.32 crore posted in Q3 FY23.
Total EBITDA stood at Rs 1,732 crore in Q3 FY24, registering the growth of 1.4% as compared with Rs 1,708 crore posted in corresponding quarter last year.
On the segmental front, the operational revenue from Transmission business was at Rs 1,264.54 crore (up 7.79% YoY) and the revenue from the Distribution business (AEML) stood at Rs 2,559.89 crore (up 21.68% YoY).
Energy demand (units sold) in Adani Electricity Mumbai in Q3 grew by 14.8% YoY to 2,489 million units, on account of strong demand.
AEML said that it witnessed one of the lowest distribution losses of 5.46% and added new consumers, reaching 3.16 million on the back of reliable and affordable power supply.
The proportion of renewable power in the total energy mix further stood at 35% as of December 2023.
The under-implementation pipeline now stands at 21.1 million smart meters, comprising nine projects with a contract value of over Rs 25,000 crore.
Anil Sardana, MD, Adani Energy Solutions (ASEL), said, “Our growing portfolio with newly commissioned lines, coupled with favorable energy demand, continues to drive our growth. We are proud of our contribution to developing national transmission infrastructure, which is very critical to facilitate renewable evacuation, especially from the Khavda region.”
Kandarp Patel, CEO, Adani Energy Solutions said, “We are very excited about opportunities in all lines of business in AESL. The smart metering segment is consistently growing besides our existing T and D established industry position. To offer smart and tech enabled smart metering solutions, our partnership with Airtel, Esyasoft, AdaniConnex will be very fruitful and will immensely augment our offering.”
Meanwhile, the power – transmission company has incorporated a wholly owned subsidiary, ‘Adani Energy Solutions Step-Twelve’ in Gujarat on 25 January 2024. The firm is incorporated for transmission, distribution and supply of power and other infrastructure services relating thereto.
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 20,422 ckm and 54,661 MVA transformation capacity.
The scrip ended 3.50% higher at Rs 1,097.40 on the BSE.
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