Adani Energy Solutions (AESL) reported an 80 percent growth in consolidated profit after tax (PAT) in the third quarter (Q3) of the current financial year (FY25) at Rs 625 crore.
While adjusted PAT excluding one-time tax items grew 26 percent to Rs 440 crore.
According to the company, the company reported a 24.4 percent growth in total income at Rs 6,000 crore in Q3FY25.
According to the financial statements, operating revenue for Q3FY25 stood at Rs 4,173 crore as compared to Rs 3,615 crore in the same period last year, showing a growth of 15.4 percent. For 9M FY25 it was Rs 12,941 crore, showing a growth of 21.4 percent.
Total revenue for the 9 months of FY25 stood at Rs 17,850 crore, up 44.4 percent over the same period last year. Kandarp Patel, CEO, Adani Energy Solutions, said, “Continuing the growth momentum, AESL reported another strong quarter on both operational and financial metrics.
The company remains focused on timely project commissioning as well as achieving operational efficiencies.” He added, “The highlight of the quarter is the new project win at AESL, which not only helps in gaining market share but also strengthens AESL’s position as the largest private transmission company in India.
Power demand trends at both utilities are encouraging and we are progressing with the installation of smart meters across all our contracts, with daily average installations improving steadily.”
He further added, “We are confident that despite large order books of Rs 54,761 crore in transmission and Rs 13,600 crore in smart metering, the company will continue to deliver strong operational and financial performance, attributed to unmatched project and operational excellence as well as robust capital management program,” Patel said.
The company said the growth in the third quarter was driven by the contribution of recently commissioned MP Package-II, Kharghar-Vikhroli, Warora-Kurnool, Khavdabhuj, Mahan-Sipat lines, higher energy sales in Mumbai and Mundra utilities.
EBITDA which means earnings before interest, tax, depreciation and amortization, grew 6 per cent to Rs 1,831 crore for the quarter, driven by strong revenue growth across all segments, robust revenue growth, EPC income in transmission, treasury income and stable regulated EBITDA from Adani Electricity Mumbai Ltd (AEML).
Operating EBITDA at Rs 1,579 crore ended 9 per cent up in the third quarter. The Transmission business has maintained industry leading operating EBITDA margin at 92 percent.
Won two new transmission projects namely Khavda Phase IV Part-D and Rajasthan Phase III Part I (Bhadla-Fatehpur HVDC), adding 3,044 ckm to the under construction network.
This is the largest project in the company’s operational history, the company said.
The company has fully commissioned MP Package-II transmission line during the quarter and is progressing towards fully commissioning Sangod, Khavda Phase-II Part-A, KPS-1 lines in FY25.
With the win of five new projects so far this year, the under construction transmission pipeline has grown from Rs 17,000 crore to Rs 54,761 crore in Q3 FY25.
According to the company, capital expenditure has increased to Rs 7,475 crore by Q9 FY25.
Smart meter deployment is progressing well and an average of 15,000 meters are currently running per day, which is expected to reach an average of 20,000 meters per day by the next quarter.
The addition of two new transmission projects has significantly increased the size of the company’s under-construction transmission pipeline to about Rs 54,761 crore.