Adani Energy Solutions Q2 profit grows 46% to Rs 284 crore

Adani Energy Solutions reported a significant 46 percent year-on-year (YoY) growth in consolidated net profit, reaching Rs 284.09 crore in Q2FY24. Formerly known as Adani Transmission, the electric power distribution company demonstrated a 15 percent YoY increase in revenue, totaling Rs 3,497 crore in the same quarter.

Earnings Before Interest Tax Depreciation and Amortization (EBITDA) experienced a six percent YoY growth, reaching Rs 1,443 crore in the July-September quarter.

As of September 30, the company carries a consolidated net debt of Rs 290 billion. Revenue from the transmission business exhibited a 17 percent YoY growth, reaching Rs 1,017.35 crore in Q2FY24. The combined revenue from Generation, Transmission, and Distribution business also saw a substantial 14 percent YoY increase, amounting to Rs 2,479.65 crore during the same period.

Adani Energy Solutions, the nation’s largest private transmission company, operates across 14 states. The company recently achieved a milestone with the successful commissioning of the Karur Transmission Ltd (KTL) project in Tamil Nadu. In Q2, the company expanded its operational network by adding 219 circuit kilometers, bringing the total network to 19,862 circuit kilometers.