Adani Energy Solutions Q4 net profit dips 13% to Rs 381 crore

Adani Energy Solutions Q4 results: Adani Energy Solutions announced its fourth-quarter results, reporting a 13.26 per cent decline in consolidated net profit to Rs 381.29 crore for the quarter ending March 2024. The decline, attributed to increased expenses, contrasts with the Rs 439.60 crore net profit reported in the same period of the previous financial year (2022-23).

In the full financial year 2023-24, Adani Energy recorded a net profit of Rs 1195.61 crore, down from Rs 1280.60 crore in FY23, according to the company's exchange filing.

Despite the profit decline, the company saw an increase in total income during Q4, rising to Rs 4,855.18 crore from Rs 3,494.84 crore a year ago. Similarly, the annual income for FY24 surged to Rs 17,218.31 crore compared to Rs 13,840.46 crore in FY23. However, expenses also witnessed a notable uptick, reaching Rs 4,358.83 crore for Q4 and Rs 14,978.74 crore for the full fiscal year, up from Rs 3,200.50 crore and Rs 13,164.32 crore respectively in the preceding periods.

An additional statement by Adani Energy Solutions underlined the company's revenue growth, driven by contributions from newly operationalised transmission assets and enhancements in North Karanpura and MP-II package lines. The surge in unit sales, attributed to increased energy consumption in both Mundra and Mumbai's distribution business, further bolstered revenues.

AESL Managing Director Anil Sardana highlighted the company's momentum, citing consistent progress in commissioning new lines, robust energy demand, and the ability to seize market opportunities as key drivers of growth. He also noted the company's Environmental, Social, and Governance (ESG) score of 25.3 from Sustainalytics, positioning Adani Energy Solutions among the top 20 electric utilities and surpassing global and industry averages.