Adani Energy Solutions Sees Robust 47% Revenue Growth in Q1 2024

Adani Energy Solutions Limited (AESL) reported a significant 47% increase in consolidated revenue for the April-June 2024 quarter, reaching Rs 5,379 crore. Operational EBITDA grew by 29.7%, while Profit After Tax surged by 73%. Key drivers include new transmission assets and smart metering contributions.

Adani Energy Solutions Limited (AESL) has announced an impressive 47% yearly rise in its consolidated revenue from operations for the April-June quarter, reaching Rs 5,379 crore. The revenue growth was largely driven by newly operationalized transmission assets and increased units sold in the power distribution business, along with contributions from the smart metering sector, stated CEO Kandarp Patel.

Revealing the financial results for the quarter ending June 2024, AESL noted a 29.7% yearly increase in operational EBITDA, amounting to Rs 1,628 crore. Additionally, the adjusted Profit After Tax climbed by 73% year-on-year to Rs 315 crore.

Patel highlighted the company's strong operational performance, especially in the transmission segment, which maintained a high average system availability of more than 99.7%. He also emphasized the incremental revenue from newly commissioned and acquired transmission assets and steady growth in regulated EBITDA from the distribution business, which helped the transmission business maintain an industry-leading EBITDA margin of 92%.

AESL, recognized as India's largest private sector transmission and distribution company, completed the acquisition of Mahan Sipat transmission assets, adding 673 ckm (circuit kilometre) to its operational network during the quarter. The company also expanded its order book to Rs 17,000 crore for transmission projects and remains optimistic about its strong near-term pipeline, valued at approximately Rs 90,000 crores in Tariff Based Competitive Bidding (TBCB) tenders.

Operating across 16 states in India, AESL's multifaceted energy domain includes power transmission, distribution, smart metering, and cooling solutions. With a cumulative transmission network of 21,187 ckm and a transformation capacity of 57,186 MVA, AESL continues to focus on leveraging growth opportunities to create shareholder value.

(With inputs from agencies.)