Adani Energy Solutions Q2 Results: Net profit rises 145% to ₹675 crore, revenue up 68%

In the same quarter a year ago, the post-tax profit stood at ₹275.88 crore.

Revenue from operations increased 68.3% to ₹6,183.7 crore in Q2 FY25, compared to ₹3,673.8 crore a year earlier.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at ₹1,786.8 crore in the quarter that ended September 2024, up 19% from ₹1,504.5 crore in Q2 FY24. The margin was 28.9% vs 41% in the corresponding period last year.

The Gautam Adani-led company's total income rose 68.8% to ₹6,359.8 crore as against ₹3,766.4 crore in the second quarter of last fiscal.

Adani Energy Solutions shares settle lower

Post earnings, shares of Adani Energy Solutions settled 1.7% lower at ₹1,000 apiece on the National Stock Exchange. The company's market capitalisation stands at ₹1,20,128.26 crore.

Commenting on results, Kandarp Patel, CEO of Adani Energy Solutions, said, "We are pleased to have delivered another quarter with robust operating and financial performance. The company remains focused on timely project commissioning as well as achieving operating efficiencies. The power demand trends in both utilities and new transmission project wins are very encouraging, and we are making progress with the installation of smart meters in all our contracts."

During the quarter, the company successfully completed its ₹8,373.10 crore qualified institutional placement (QIB), the largest in India's power sector. The company's board, in a meeting on August 3, 2024, had approved the allotment of 8,57,89,959 shares to eligible investors at ₹976 per share (including a premium of ₹966 per share), Adani Energy said in an exchange said in an exchange filing

"Pursuant to the allotment of these shares, the paid-up equity share capital of the company increased from ₹1,115.49 crore comprising 111,54,92,683 fully paid-up equity shares to ₹1,201.28 crore comprising 120,12,82,642 fully paid-up equity shares," it said.