New transmission assets, increase in units sold, smart meter business drove revenue growth: AESL CEO
Jul 25, 2024
Ahmedabad (Gujarat) [India], July 25 : The revenue growth in the April-June quarter was on account of contributions from the newly operationalized transmission assets and an increase in the units sold in power distribution business and contributions coming from the smart metering business, said CEO of Adani Energy Solutions Limited (AESL), Kandarp Patel.
Adani Energy Solutions has reported a 47 per cent yearly rise in its consolidated revenue from operations in the April-June quarter. The consolidated revenues were at Rs 5,379 crore, the company earnings data released today showed.
The company announced its financial results for the quarter ending June 2024 on Thursday.
The company's operational EBITDA grew 29.7 per cent on a yearly basis to Rs 1,628 crore. The company's adjusted Profit After Tax of Rs 315 crore increased by 73 per cent on a yearly basis.
"As far as operational update is concerned, the transmission segment as usual has been doing very well. This was another strong quarter of operational performance with an average system availability of more than 99.7 per cent," Patel said in a video message.
"With an incremental revenue coming from newly commissioned and acquired transmission assets, steady growth of regulated EBITDA from distribution business, the transmission business continues to maintain industry's leading EBITDA margin of 92 per cent."
He added AESL being India's largest private sector transmission and distribution company with a strong growing smart metering portfolio is deeply focused on leveraging the growth opportunity and creating value for its shareholders as well as all stakeholders.
During the quarter, the company completed acquisition of Mahan Sipat transmission assets thereby adding 673 ckm (circuit kilometre) to its operational network.
Within the transmission segment, the company added multiple projects to its pipeline in the recent quarters expanding the order book to Rs 17,000 crore for transmission projects.
The company remains excited about the strong near-term transmission pipeline upwards of Rs 90,000 crores in Tariff Based Competitive Bidding (TBCB) tendering.
AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. AESL is the country's largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 21,187 ckm and 57,186 MVA transformation capacity.
