Adani Green Energy Q2 Results: Cash Profit increases 50% to Rs 401 crore

Mumbai: Adani Green Energy posted a 50% increase in cash profit at Rs 401 crore during the July-September quarter, up from Rs 401 crore in the corresponding previous period, the company said in a regulatory filing.

Revenue from power supply was up 33% at Rs 1107 crore against Rs 834 crore in the July-September quarter of last fiscal.

"The growth in revenues is driven by greenfield commissioning of 1,315 MW and integration of SB Energy’s operating portfolio of 1,700 MW," the company said in a press statement.

“With our focus on delivering the cheapest green electron, we have continued to deploy the latest and most innovative technologies to maximize electricity generation at a lower cost” said Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd.

The company added that solar CUF (capacity utilisation factor) and sale of energy has improved with integration of high-quality SB Energy portfolio having a CUF of 26.3% in H1 FY23.

It added that the reduction in overall wind portfolio CUF and sale of energy is primarily due to one-off disruption in transmission line (force majeure) for 150 MW plant in Gujarat.

"The impact of this event in Q2 FY23 is expected to be 0.4% of the expected annual generation of the overall operational capacity. Excluding the aforesaid 150 MW plant, the Wind portfolio CUF stands at a strong 41.0% in H1 FY23," the company said.

Adani Green Energy's scrip ended at Rs 2172.85, up 1.90% on the BSE Thursday.