Adani Green Energy Q3 Result: Profit Up By 85% To Rs 474 Crore

Adani Green Energy, the leading renewable energy company in India, saw its shares rise by 4% to a peak of Rs 1,061.65 on the BSE on Friday, January 24, following a report of an 85% year-on-year rise in its consolidated net profit for the December quarter, reaching Rs 474 crore, up from Rs 256 crore during the same period last year.

Additionally, the revenue generated from operations of pure-play renewable energy firms grew by 2.3% to ₹2,365 crore compared to the same quarter a year earlier.

Nevertheless, earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 4% to ₹1,601 crore, down from ₹1,666 crore in the previous year. As a result, the EBITDA margin also decreased to 67.7% from the 72.1% recorded during the same period last year.

In fact, AGEL accounted for 12% of wind installations and 15% of the total utility scale in the calendar year 2024.

Regarding the Q3 results, CEO Amit Singh commented in the statement, "We are steadily developing the world's largest RE plant in Khavda, Gujarat, as well as large-scale plants in Rajasthan and other sites, supported by well-aligned transmission planning."

He further stated, "Our updated strategy now includes largescale deployment of Battery Energy Storage Systems (BESS), given significant cost declines in the last few quarters," he added.