Adani Green Energy Q4 net profit rises over 8% to ₹105 crore

Shares of Adani Green Energy gained 1.85% to close at ₹1065.85 on Wednesday on the BSE, while the benchmark index, Sensex gained 0.88% to 48677.55 points.Premium
Shares of Adani Green Energy gained 1.85% to close at ₹1065.85 on Wednesday on the BSE, while the benchmark index, Sensex gained 0.88% to 48677.55 points.
 2 min read . Updated: 05 May 2021, 09:01 PM IST Ashwin Ramarathinam

Adani Green Energy Ltd (AGEL) on Wednesday reported a rise of over 8% in its consolidated net profit to ₹105 crore in March quarter against a consolidated net profit of ₹97 crore for the quarter ended on March 31, 2020, a BSE filing said.

Total income of the company rose 50.49% to ₹1082 crore in the quarter from ₹719 crore in same period a year ago.

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Revenue from Power Supply gained 15% Year-on-Year(YoY) at ₹690 crore in March quarter over ₹601 crore in the same quarter last year was backed by added capacities and consistent solar and wind capacity utilization factor (CUF).

EBITDA from Power Supply rose 15% YoY at Rs. 626 cr in March 2021 quarter against ₹546 crore for the corresponding quarter of previous fiscal owing to improved revenue performance and optimization of operational and maintenance (O&M) cost.

In Fiscal 20-21, AGEL sealed $ 1.35 billion senior debt facility in one of Asia’s largest project financing deals with participation from 12 international banks to finance its under-construction renewable portfolio to strengthens its strategy to fully fund its under construction asset portfolio that brings it a step closer to its vision of 25 GW capacity by 2025.

Gautam Adani, Chairman, Adani Green Energy Ltd said in a statement, "Despite all the challenges resulting from the pandemic, we have been resolute in our execution and stay confident of emerging as the world’s largest renewable player before the end 2030. We are also on track to contribute meaningfully to India’s COP21 goals as well as to the wider United Nations Framework Convention on Climate Change (UNFCCC) goals of sustainability."

Shares of Adani Green Energy gained 1.85% to close at ₹1065.85 on Wednesday on the BSE, while the benchmark index, Sensex gained 0.88% to 48677.55 points.

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