Adani Green Q3 Results: Adani Green Energy Ltd. reported Q3 Results on February 07, 2023. The company reported a Net Profit jumped to 103 crores, soaring 110% YoY. However, the stock of Adani Green Energy Ltd. on NSE was down 5% today.
Adani Green Q3 Results Highlights
The company has commissioned 1,915 MW renewable projects in the April-December period of FY23, which includes 1,440 MW solar-wind Hybrid plants in Rajasthan, 325 MW wind power plant, the largest in Madhya Pradesh, and 150 MW solar power plant in Rajasthan.
The Solar portfolio capacity utilization factor (CUF) stood at 24%, as of December, with a 140 basis improvement over the previous year. Meanwhile, wind portfolio CUF stood at 27.1% with a 610 basis points reduction, compared with the previous year primarily due to a one-off disruption in transmission for a 150 MW plant in Gujarat. The plant is now fully restored.
| Segments | Q3FY23 | Q3FY22 |
| Revenue from Operations | Rs.1,973 crores | Rs.1,400 crores |
| Net Profit | Rs. 103 crores | Rs. 49 crores |
Revenue from Operations (Adani Green Q3 Results)
Adani Green Energy Ltd. reported a Consolidated Revenue from Operations of Rs.1,973 crores in the December quarter of FY23 up 40.92% YoY. It was Rs.1,400 crores in the same quarter of the previous year.
Segment-wise, revenue from power supply increased 29% to Rs 1,260 crore against Rs 973 crore in the same quarter last year. Further, revenue from sales of goods and related services rose 47% YoY to Rs 699 crore.
he company has commissioned 1,915 MW renewable projects in the April-December period of FY23, which includes 1,440 MW solar-wind Hybrid plants in Rajasthan, 325 MW wind power plant, the largest in Madhya Pradesh, and 150 MW solar power plant in Rajasthan.
Net Profit for the Quarter (Adani Green Q3 Results)
Adani Green Energy Ltd. on Tuesday reported a consolidated Net Profit that more than doubled to Rs. 103 crores for the December quarter, rising 110%, compared with Rs. 49 crores in the last year period.
The Solar portfolio capacity utilization factor (CUF) stood at 24%, as of December, with a 140 basis improvement over the previous year. Meanwhile, wind portfolio CUF stood at 27.1% with a 610 basis points reduction, compared with the previous year primarily due to a one-off disruption in transmission for a 150 MW plant in Gujarat. The plant is now fully restored.
Management Outlook (Adani Green Q3 Results)
“We are making steady progress in our endeavor to lead the way towards large-scale adoption of affordable clean energy in India, and we are on track to achieve our long-term renewable capacity addition target. The relentless efforts of our people have enabled the development of large-scale hybrid capacities, which are not only the first in India but also the largest in the world,” said Vneet S Jaain, MD & CEO, Adani Green Energy.
These capacities deploy cutting-edge technologies to harness the power of the sun and enable cost-effective power extraction from the wind resources as well as to make India future-ready with better stability and integration into the national grid,” said Vneet S Jaain, MD & CEO, Adani Green Energy.
Adani Green has signed PPAs for 450 MW wind and 50 MW solar projects with SECI in the third quarter of the current fiscal and Jan 2023 respectively, further strengthening the pipeline.
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