Adani Energy Solutions Ltd, formerly known as Adani Transmission, on Tuesday reported a steep growth of 172.2 per cent, year-on-year (YoY), in its second quarter profit for the ongoing financial year 2024-25 (Q2 FY25). During the quarter under review, profit after tax (PAT) came at Rs 773 crore as against Rs 284 crore in the year-ago period.
The company said its total income witnessed robust growth of 69 per cent (at Rs 6,360 crore) on account of the contribution of the newly operationalized transmission assets (KVTL, KBTL, WKTL lines), partial completion of lines at underconstruction projects (MP-II) and an increase in energy sales because of strong demand growth in distribution business at Mumbai and Mundra and growing contribution from smart metering business.
EBITDA increased by 31 per cent to Rs 1,891 crore for the quarter translating from strong revenue growth across all segments, EPC income in transmission, treasury income and steadily regulated EBITDA from the Distribution business.
"The operational EBITDA of Rs 1,626 crore in Q2 FY25 ended 19 per cent higher. The transmission business continues to maintain the industry's leading operating EBITDA margin of 92 per cent," Adani Energy Solutions stated.
"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. 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," said Kandarp Patel, CEO at Adani Energy Solutions.
Shares of Adani Energy were last seen 1.72 per cent lower at Rs 1,000.