Adani Green Energy reported a net profit of ₹629 crore in the first quarter of FY25, up 95 per cent on year, and revenue from power supply rose around 24 per cent to ₹2,528 crore on higher energy sales and expansion in operational capacity.
The net profit was aided by a higher share of profit from associates and joint ventures. Operating profit from power supply was 23 per cent higher at ₹2,374 crore and the operating margin was almost flat at 92.6 per cent.
In the June quarter, the company’s energy sales rose 22 per cent on year to 7.4 billion units and its operational capacity expanded 31 per cent to 10.9 GW, and 250 MW of wind power was added in July at Khavda.
Capacity addition
“The robust growth in revenue, EBITDA and cash profit is primarily driven by a capacity addition of 2,618 MW over the last year,” the company said in a release. Of the total addition, 2 GW was from solar power in Khavda, 418 MW solar capacity in Rajasthan and 200 MW wind capacity in Gujarat.
“We are working relentlessly towards the development of the world’s largest single-location renewable energy plant of 30 GW at Khavda in Gujarat,” said Chief Executive Officer Amit Singh.
He added that advance robotics technology has been deployed for installing solar modules and boost productivity.
Adani Green is developing a 30-GW renewable energy plant at Khavda in Gujarat, spread over an area of 538 sq km. Within 12 months of breaking ground, it operationalised the first 2 GW and plans to add a total of 6-GW capacity in FY25 and Khavda will contribute a major part of this capacity.