Adani Green Energy Q2 earnings: Net profit rises 16% to ₹747 crore, EBITDA jumps 46%

Adani Green Energy, the country's leading renewable energy company, on Wednesday, October 21, reported a net profit of ₹747 crore in the second quarter of current financial year, marking an increase of 16% from ₹644 crore in the same period last year.

The company's revenue from operations rose 42% to ₹4,258 crore at the end of September quarter compared with ₹3,008 crore in the year-ago period. Its energy sales rose 32% to 25,747 million units (MUs) in first half and 33% annually in Q2 to 12,090 MUs.

Billionaire Gautam Adani-backed company reported strong operational performance as its earnings before interest, taxes, depreciation, and amortization (EBITDA) also known as operating profit jumped 46% to ₹3,797 crore from ₹2,603 crore a year earlier.

“Performance during the quarter was equally strong with energy sales increasing 33% year-on-year and revenue from power supply increasing 45% year-on-year to Rs. 4,019 crore while EBITDA from power supply grew 51% YoY,” said Ashish Khanna, CEO, Adani Green Energy.

“We also achieved a significant milestone in energy storage, expanding our operational BESS capacity at Khavda to 6.63 GWh—the world’s largest single-location battery storage installation. This makes AGEL India’s largest BESS operator, accounting for more than half of the country’s operational capacity. We remain focused on scaling up storage deployment while closely monitoring the availability of transmission infrastructure,” Khanna added.

Adani Green Energy said that its operational capacity grew by 24% annually to 20.8 gigawatts (GW), putting it on track to achieve 50 GW target by 2030, the company said.

The company added 4,083 megawatt (MW) greenfield capacity on an annual basis including 2,957 MW of solar capacity (2,568 MW in Khavda, Gujarat and 389 MW in Rajasthan); 805 MW wind capacity (666 MW in Khavda and 139 MW in Mundra) and 321 MW of solar-wind hybrid capacity in Khavda, Adani Green Energy said.

The company added that it is steadily progressing in the development of the massive 30 GW renewable energy plant at Khavda in Gujarat.

“This is spread over an area of 538 sq km, almost 5 times the city of Paris. This project will set a global benchmark for the development of ultra large-scale renewable energy plants. The operational capacity in Khavda has increased to 10.8 GW4 from 7.1 GW a year back. Our investment in BESS is also helping address curtailment challenges at Khavda by enabling greater flexibility in managing renewable energy generation,” Adani Green Energy said.

Adani Green Energy shares fell 4% to an intraday low of ₹1,247.95 after its earnings announcement.