Adani Energy Solutions' Stellar Growth: A Surge in Projects and Profits

Adani Energy Solutions has secured three new transmission projects costing Rs 10,300 crore, extending its network by 2,059 circuit kilometers. In the July-September quarter, profits rose 172.2% to Rs 773 crore, driven by new operational assets and robust energy demand, with a total income up by 68.9%.

Adani Energy Solutions has successfully secured three significant transmission projects at a combined cost of Rs 10,300 crore, adding an impressive 2,059 circuit kilometers to its expanding network currently under construction. Kandarp Patel, CEO of Adani Energy Solutions, highlighted this milestone while stating that the company increased its network by 140 circuit kilometers during the last quarter, bringing the total to 23,269 circuit kilometers.

The company is actively working on 12 projects with a capital expenditure of Rs 27,300 crore, all set to be fully commissioned in the current financial year. On Tuesday, the Adani Group company reported a remarkable increase of 172.2% in net profit, or Profit After Tax, for the July-September quarter, soaring to Rs 773 crore from Rs 284 crore in the corresponding quarter of the previous fiscal.

The cumulative net profit for the April-June and July-September periods skyrocketed by 133.4% to approximately Rs 1,088 crore. Total income for the quarter also surged by 68.9% year-on-year, reaching Rs 6,360 crore from Rs 3,766 crore a year prior. This robust growth was attributed to the contribution of newly operationalized transmission assets, partially completed lines at ongoing projects, and increased energy sales due to strong demand in Mumbai and Mundra, complemented by the smart metering business expansion. The company's EBITDA increased by 31% to Rs 1,891 crore, driven by significant revenue gains across all segments. Adani Energy Solutions, a leading private transmission and distribution entity, continues to focus on timely project execution and operational efficiencies while spearheading India's energy transition.

(With inputs from agencies.)