Vinay Karanam Adani Energy Solutions Limited (AESL) concluded the fiscal year ended March 31 on a robust note, with operational revenue reaching Rs 14,217 crore, marking a 17% increase year-on-year. According to the company’s data released on Tuesday, revenue for the fourth quarter of 2023-24 also saw a notable growth of 17.4% YoY, amounting to Rs 3,560 crore.
However, the net profit witnessed a decline of 6.7% for the entire year, totaling Rs 1,195 crore, and a 13.3% decrease in the fourth quarter, reaching Rs 381 crore.
The revenue surge was attributed to contributions from newly operationalized transmission assets, commissioning of elements at North Karanpura and MP-II package lines, and increased unit sales due to higher energy consumption in the distribution business at Mumbai and Mundra.
Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) for AESL, a part of the Adani Group, grew by 2.4% YoY to Rs 1,565 crore for Q4FY24.
Anil Sardana, the managing director of Adani Energy Solutions, highlighted the company’s ESG score of 25.3 from Sustainalytics in their recent assessment, placing AESL among the top 20 electric utilities and surpassing global and industry averages. He emphasized the company’s commitment to reducing environmental impact and promoting sustainable practices.
Sardana also mentioned the successful commissioning of key transmission projects in FY24, including the largest 765 kV Warora-Kurnool transmission line, facilitating the flow of 4,500 MW of power between Western and Southern regions. Additionally, projects like the 765 kV KBTL and 400 kV Kharghar-Vikhroli double circuit transmission line were completed, contributing to efficient renewable energy integration and meeting Mumbai’s electricity demand.
Adani Energy Solutions Limited’s financial and operational performance for the quarter and year ended March 31, 2024, underscores its significant strides in the energy sector and commitment to sustainable development.
