Adani Green Energy Q4 net profit declines 39% to ₹310 crore
Upstox
2 min read • Updated: May 3, 2024, 5:27 PM
Summary
Adani Green Energy's net profit for the March quarter fell 39% to ₹310 crore due to higher expenses. The company's total income also dipped slightly to ₹2,806 crore compared to ₹2,977 crore last year. Expenses rose to ₹2,379 crore from ₹2,053 crore.
Adani Green Energy Ltd on Friday posted a 38.85% decline in consolidated net profit to ₹310 crore for the March quarter, mainly on account of increased expenses. The company’s net profit was ₹507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing.
During the fourth quarter of FY24, the company's total income fell to ₹2,806 crore from ₹2,977 crore a year ago. The company's expenses surged to ₹2,379 crore during the period under review, as against ₹2,053 crore in the year-ago period.
AGEL’s revenue snapshot
The below table represents the statistics for the current overall portfolio of Adani Green Energy:
| Attribute | Value | Increased by |
|---|---|---|
| Revenue | ₹7,735 crore | 33% |
| EBITDA | ₹7,222 crore | 30% |
| Cash Profit | ₹3986 crore | 25% |
| Run-rate EBITDA | ₹10,462 crore | 39% |
Also read: Adani Enterprises shares decline as net profit falls in Q4 FY24; check details
About Adani Green Energy Limited:
Headquartered in Ahmedabad, Adani Green Energy Limited is an Indian renewable energy company. It is majority-owned by Indian conglomerate Adani Group and minority-owned by TotalEnergies. Adani Green has an operational portfolio of 10,934 MW, delivering reliable, affordable, and clean power to the national grid. AGEL's operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity.
Shares of Adani Green Energy Limited closed 0.57% higher at ₹1,797 on NSE on 3 May 2024.
With inputs from PTI.