Adani Green Energy’s consolidated net profit for the June quarter rose 50.5 per cent y-o-y to ₹322 crore due to a significant surge in sale of power. Total income for the quarter was up 41 per cent at ₹2,404 crore.

Revenue from sale of power rose 55 per cent on year to ₹2,059 crore, but fell 3.3 per cent sequentially. The company sold 6,023 million units in the quarter, up 70 per cent on year. Solar power contributed to bulk of the sales, followed by wind.

Net profit fell 36.6 per cent sequentially.

Total expenditure saw an increase of 36 per cent with a jump in finance costs that was up 3 times at ₹1,393 crore.

The company’s operational capacity increased 43 per cent to 8,316 MW with addition of 1,750 MW solar-wind hybrid, 212 MW solar and 554 MW wind power plants over the last one year.

Its EBITDA from power supply saw a 53 per cent rise to ₹1,938 crore, with the operating margin at 92.5 per cent, up 70 bps.

TN order

The company said it has received a favourable order from Tamil Nadu Electricity Regulatory Commission to reinstate the power purchase agreement tariff of ₹7.01 per unit (instead of ₹5.1 per unit) for 47 MW operating solar project at Kamuthi. This would result in one-time upside of ₹103 crore and a recurring annual upside of around ₹14 crore, it said. The one-time revenue upside will be accounted upon receipt.

“We aim to grow our renewable power capacity to 45 GW by 2030 through solar, wind and solar-wind hybrid solutions as major contributors,” said CEO Amit Singh.

Shares of Adani Green ended flat at ₹1,093.3 on the NSE.