Adani Energy Solutions Q2 Results: Adani Energy Solutions reported a remarkable 145% increase in its consolidated net profit for the quarter ending September 2024, reaching Rs 675 crore compared to Rs 276 crore in the same period last year. Revenue from operations surged 68% year-on-year to Rs 6,184 crore, showcasing the company’s strong financial performance.
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The company experienced a healthy operational performance, with EBITDA rising 12% YoY to Rs 1,785 crore in Q2 FY25. The transmission business saw significant growth, with revenue more than doubling to Rs 2,302 crore from Rs 993 crore a year ago. Additionally, revenue from the distribution segment increased by 22% YoY to Rs 3,014 crore, while trading revenues skyrocketed 177% YoY to Rs 490 crore.
On a sequential basis, Adani Energy returned to profit after posting a loss of Rs 824 crore in the previous quarter, with revenues rising 15% quarter-on-quarter. The growth is attributed to the commissioning of new lines such as Kharghar-Vikhroli, Warora-Kurnool, and Khavda-Bhuj, along with the acquired Mahan-Sipat line.
CEO Kandarp Patel expressed satisfaction with the strong operating and financial results, emphasizing the company’s focus on project commissioning and operational efficiencies. The transmission business achieved over 99.7% average system availability, earning Rs 35 crore in incentive income in Q2 FY25.
The company secured three new transmission projects worth Rs 10,300 crore, increasing its under-construction project pipeline from Rs 17,000 crore in Q1 FY25 to Rs 27,300 crore in Q2 FY25. Adani Energy sold 2,609 million units in AEML, a rise from 2,446 million units year-on-year, with a distribution loss of 4.85%.
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The company is also advancing in smart meter projects, with an implementation pipeline of 22.8 million smart meters across eight projects, valued at over Rs 27,195 crore. However, the stock traded 1.8% lower at Rs 999.6 on the NSE on the day of the announcement.
