Adani Green's Q4 profit plummets 70% to ₹150 crore
Gautam Adani's Adani Green Energy has reported a significant 70% year-on-year (YoY) decrease in its consolidated net profit for the quarter ending March 2024, falling to ₹150 crore. This is a sharp contrast to the ₹508 crore profit recorded in the same quarter of the previous year. Additionally, there was a sequential drop of 41% from ₹256 crore reported in the October-December quarter.
Operational revenue also sees a downward trend
Adani Green's operational revenue also took a hit, with an 8.4% YoY decrease to ₹1,941 crore in Q4FY24 from ₹2,119 crore in Q4FY23. However, the company did see a quarter-on-quarter (QoQ) increase of 10% over ₹1,765 crore posted in Q3FY24. Despite quarterly setbacks, Adani Green's consolidated revenue for the full financial year stood at an impressive ₹7,735 crore, marking a substantial YoY increase of 33%. The company's EBITDA also grew by 30%, reaching ₹7,222 crore.
Adani Green reports operational capacity and sales growth
Adani Green noted an operational capacity surge of 35% YoY to reach a total of 10.9GW, including a greenfield addition of 2.8GW which accounts for an impressive 15% of India's total RE capacity addition in FY24. The company also made progress on a 30GW project under construction at Khavda, Gujarat, which is touted as the world's largest RE project. The company's energy sales saw an impressive increase by 47% YoY to reach a total of 21,806 million units in FY24.
