Adani Energy Solutions on Thursday reported nearly 80% rise in the consolidated net profit to ₹625.30 crore for the third quarter ended on December 31, 2024 compared to a year ago where the company reported a consolidated net profit of ₹348.25 crore in the quarter ended on December 31, 2023, a BSE filing showed.
The revenue from operations of Adani Energy Solutions rose 27.78% to ₹5830.26 crore from ₹4562.73 crore in the same period last fiscal, Adani Energy Solutions said in a regulatory filing.
Total income also saw a stellar rise climbing to ₹6,000.39 crore in Q3 of the current fiscal, compared to ₹4,824.42 crore a year ago. The robust growth of 24.37% in total income of ₹6,000.39 crore in Q3 was driven by the contributions from the recently commissioned MP Package-II, Kharghar-Vikhroli, Warora-Kurnool, Khavda-Bhuj, Mahan-Sipat lines, higher energy sales in Mumbai and Mundra utilities, said the company, part of the globally-diversified Adani portfolio.
The Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is up 5.68% at ₹1830.87 crore as against ₹1,732.33 crore in the same quarter of FY24.
Kandarp Patel, CEO, Adani Energy Solutions, said “The company stays focused on timely project commissioning as well as achieving operating efficiencies. The key highlight of this quarter is the new project wins in AESL, which not only helps in gaining market share but also strengthens AESL’s pole position as the largest private transmission player in India. We are confident that despite a large order book of ₹54,761 crore in transmission and ₹13,600 crore in smart metering, the company will continue to deliver strong operating and financial performance, thanks to unparallel project and operating excellence coupled with robust capital management program,” Patel noted.
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Q3 Segment-Wise Performance
Transmission business: The revenue from its transmission business stood at Rs 2,035 crore, lower on a sequential basis but increased on a YoY basis. In Q2FY25 it stood at ₹2,303 crore while in Q3FY24 it was reported at ₹1,119 crore. The segment recorded incentive income of ₹33 crore in Q3FY25. During 9MFY25, the company earned an incentive income of ₹97 crore highlighting its operational excellence in operating and maintaining the transmission infrastructure.
During the quarter, the company won two new transmission projects: Khavda Phase IV Part-D with a project cost of ₹3,455 crore and Rajasthan Phase III Part-I (Bhadla-Fatehpur HVDC) with a preliminary project cost of ₹25,000 crore, thereby adding 3,044 circuit kilometres (CKM) to under construction network.
The company said, “Robust under construction project pipeline of 13 projects worth ₹54,761 crore are currently under the execution phase. We expect to fully commission the Sangod (STSL), Khavda Phase-II Part-A, KPS (Khavda Pooling Station) – 1 in the current fiscal year. The near-term tendering pipeline for the industry is solid and upwards of ₹61,000 crore.”
Distribution business (AEML Mumbai and MUL Mundra): The distribution vertical revenue stood at ₹2,972 crore versus ₹3,014 crore in Q2FY25 and ₹2,560 crore in Q3FY24. In line with the robust power demand trends, Adani Energy said, Q3 energy demand (units sold) in Mumbai circle (AEML), witnessed an increase in the energy consumed by 3% and increased by 30% YoY at Mundra Utility (MUL). Its distribution losses of 4.66% remained low and the utility added new consumers, reaching 3.17 million on the back of reliable and affordable power supply.
Smart Meters: The smart meter deployment, Adani Energy said, is progressing well with the current average run-rate of 15,000 meters per day expected to reach an average of 20,000 meters per day by the next quarter. The under-implementation pipeline stands at 22.8 million smart meters, comprising nine projects with a revenue potential of over Rs 27,195 crore.
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Adani Energy Solutions Q3 FY25 Highlights (Consolidated, YoY)
- Revenue from operations rose 27.78% to ₹5,830.26 crore.
- EBITDA rose 5.68% to ₹1830.87 crore.
- Net profit up 73% to ₹562 crore.
For detailed Q3 FY25 report you can directly download it through BSE website: Adani Energy Solutions Q3FY25 Results
Adani Energy Solutions shares skyrocketed nearly 3% to ₹826 per share on the NSE right after announcing their results. However, the initial excitement settled and the stock eased to a 1.45% gain at ₹814.45 by 3:00 P.M., finally closing up 0.71% at ₹806.80 which shows that Adani Energy Solutions share price had quite a roller-coaster ride after the results announcement. The initial surge to ₹826 per share shows strong positive investor sentiment but the subsequent drop to ₹814.45 and finally closing at ₹808.80 indicates some profit booking in intraday.
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