Adani Energy Solutions reports 172 pc jump in net profit in Q2 FY25

Ahmedabad : Adani Energy Solutions Limited (AESL) on Tuesday reported an impressive 172 per cent surge in net profit at Rs 773 crore in the July-September quarter (Q2) this fiscal.

Adjusted profit after tax (PAT) was Rs 459 crore, excluding deferred tax reversal (MAT entitlement) of Rs 314 crore -- up 61.6 per cent YoY while EBITDA was Rs 1,891 crore, up 31 per cent YoY.

Kandarp Patel, CEO, Adani Energy Solutions, said the company remains focused on timely project commissioning as well as achieving operating efficiencies.

“The power demand trends in both utilities and new transmission project wins are very encouraging and we are making progress with the installation of smart meters in all our contracts,” said Patel.

In the month of August, the Adani Group company raised Rs 8,373 crore via the qualified institutional placement (QIP) route, the largest in the country's power sector. The QIP received bids of approximately six times of the base deal size from a diverse group of investors.

Adani Energy Solutions reported an increase in its project pipeline from Rs 17,000 crore in the first quarter of the current fiscal to Rs 27,300 crore in the second quarter (Q2). The transmission network was at 23,269 circuit kilometres (ckm) in the July-September period, compared to 19,862 ckm in the same period of the previous year.

Adani Energy Solutions saw robust growth of 69 per cent in total income, driven by the contribution from the recently commissioned Kharghar-Vikhroli, Warora-Kurnool, Khavda-Bhuj lines, acquired Mahan-Sipat line, higher energy sales in Mumbai and Mundra utilities and contribution from smart metering.

The company also secured three new transmission projects -- NES in Jamnagar Gujarat, NES in Navinal (Mundra), and Khavda Phase IVA, thereby adding 2,059 ckm to under construction network.

“The leverage position is healthy, with net debt to EBITDA metric at 3.1 times in H1 FY25,” said the company. The capex as of H1 FY25 was Rs 4,400 crore, as against Rs 2,622 crore in H1 FY24.

“Our credible steps of successfully divesting the Dahanu thermal plant in line with our commitment and achieving an all-time high share of 39 per cent renewable power penetration in Mumbai strengthens our position as true energy transition leader in India,” Patel said.