Adani Green reports 35 pc hike in Q1 cash profit at Rs 460 crore
Aug 04, 2021
Ahmedabad (Gujarat) [India], Aug 4 : Adani Green Energy Ltd (AGEL) said on Wednesday its cash profit in the June quarter advanced by 35 per cent to Rs 460 crore from Rs 342 crore in the same period of previous year.
Total income increased by 23 per cent to Rs 1,079 crore in Q1 FY22 from Rs 878 crore in Q1 FY21. Revenue from power supply jumped 39 per cent to Rs 848 crore from Rs 609 crore.
Operationally, the sale of energy rose 48 per cent to 2,054 million units from 1,385 million units in Q1 FY21.
Solar capacity utilisation factor improved with 20 basis points improvement in grid availability, consistently high plant availability of 99.6 per cent and consistent solar irradiation.
The overall wind portfolio capacity utilisation factor improved backed by higher efficiency of new wind plants with technologically advanced wind turbine generators.
Gautam Adani, Chairman of the Adani Group, said AGEL's growth continues to accelerate. "In just two years, AGEL has marched to the very forefront of the world's renewable energy brigade, accelerating the transition to green energy faster than any other company in the world."
He added: "The acquisition of SB Energy's high quality renewable energy portfolio has further consolidated our position as the world's largest solar player thereby keeping us on track to become the world largest renewables player by 2030. Renewable energy is at a massive inflexion point in its young journey and we are well positioned."
The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC) and various state discoms.
