Adani Energy Solutions logs 17 per cent revenue growth, ends FY24 on a strong note

Ahmedabad, April 30 (IANS) Adani Energy Solutions Limited (AESL) on Tuesday reported operational revenue at Rs 14,217 crore for the year ended March 31, up 17 per cent (year-on-year) — registering comparable profit after tax (PAT) at Rs 1,197 crore, up by 12 per cent.

Operational EBITDA was at Rs 5,695 crore for the full year, up 7 per cent YoY.

The revenue for the January-March period (Q4) was up 17 per cent and EBITDA was at Rs 1,769 crore, which ended 4 per cent higher (year-on-year).

“AESL’s consistent progress in commissioning of new lines, along with robust energy demand, and our ability to recognise and tap market opportunities within the areas of interest continues to propel our growth and keeps us at the forefront of energy transition in India,” said Anil Sardana, MD, Adani Energy Solutions.

“We are proud of our contribution to developing critical transmission infrastructure, to facilitate renewable evacuation and as well as strengthening the existing grid,” he added.

The revenue growth was strengthened by contribution from the Warora-Kurnool, Karur, Kharghar-Vikhroli, and Khavda-Bhuj transmission lines commissioned during the year, coupled with a rise in energy consumption in the Mumbai distribution business, the company said.

“An ESG score of 25.3 from Sustainalytics in their recent assessment placed us to be one of the amongst top 20 electric utilities and helped surpass global and industry averages,” said Sardana.

The company commissioned some of the most challenging and critical transmission infrastructure with 765 kV Warora-Kurnool line (WKTL) of 1,756 ckm spanning across three states, 400 kV Kharghar Vikhroli line (KVTL) significantly enhancing Mumbai’s grid connectivity, and 765 kV Khavda Bhuj (KBTL) line, establishing a first-ever critical link with Khavda RE park.

This year, within the transmission segment, the company added multiple projects to its pipeline, namely KPS-1 (Khavda Pooling Station), Khavda Phase-III Part-A and multiple line and substation augmentation projects under the RTM basis, expanding the order book to Rs 17,000 crore for transmission projects.

In line with the robust demand trends across the country, energy demand (units sold) in Adani Electricity Mumbai in FY24 ended 9.4 per cent higher (YoY) to 9,916 million units. Within the smart metering business segment, the order book has further expanded to 22.8 million smart meters, with a revenue potential of Rs 27,195 crore, said the company.

AESL is the country’s largest private transmission company, with a presence across 17 states and a cumulative transmission network of 20,509 ckm and 57,011 MVA transformation capacity.

–IANS

na/vd