Adani Energy Solutions Limited (AESL), part of the globally diversified Adani portfolio and the largest private transmission and distribution company in India with a growing smart metering portfolio, today announced its financial and operational performance for the quarter and year ended March 31, 2024, the company announced through an exchange filing.
In͏ fiscal year 2024, Adani ͏Energy ͏Solutions, ͏operational͏͏ revenue, reached R͏s 14,2͏17 crore, a 17 per cent ͏increase compared to the previous year.
Operational EBITDA, reached ͏Rs 5,695 crore͏ for the full year, a 7 per cent YoY ͏increase. Comparable profits after tax (PAT) ͏saw a͏ rise, reaching Rs 1,197 crore, ͏marking͏ a 12 per cent increase ͏from the previous fiscal year. In͏ the fourth quarter alone, the company reported a 17 per cent YoY revenue growth an EBITD͏A͏ of Rs 1,͏769 crore, showing a 4 per cent increase compared to the same͏ period last year.
“AESL’s consistent progress in commissioning of new lines, along with robust energy demand, and our ability to recognize and tap market opportunities within the areas of interest continues to propel our growth and keeps us at the forefront of energy transition in India. We are proud of our contribution to developing critical transmission infrastructure, to facilitate renewable evacuation and as well as strengthening the existing grid. An ESG score of 25.3 from Sustainalytics in their recent assessment placed us to be one of the amongst top 20 electric utilities and helped surpass global and industry averages. This demonstrates our unwavering dedication to reduce environmental impact and promote sustainable practices,” said Anil Sardana, MD, Adani Energy Solutions.
Revenues
Revenues witnessed a double-digit growth of 17 per cent on account of the contribution from the newly operationalized transmission assets, commissioning of elements at North Karanpura and MP-II package lines and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra.
EBITDA
The operational EBITDA increased by 3 per cent to Rs 1,619 crore for the quarter, with incremental revenue contribution from Warora-Kurnool, Karur, Kharghar-Vikhroli and MP-II lines and steadily regulated EBITDA from the Distribution business. For the full year, the operational EBITDA grew by 7 per cent to Rs 5,695 crore. The transmission business continues to maintain the industry’s leading EBITDA margin of 91 per cent. The total EBITDA of Rs 1,769 crore in Q4 and Rs 6,322 crore in FY24 ended 4 per cent higher.
PAT
Comparable PAT of Rs 1,197 crore in FY24 was 12 per cent higher YoY. The PAT last year had a net onetime positive impact of Rs 210 crore (net-off tax) from regulatory income and provisions.
