Adani Energy's Net Profit Slips 13% To ₹381 Cr In Q4, Revenue Up 17%

Adani Energy Solutions posted its earnings for the quarter ended March late on Tuesday ahead of the market holiday.

What Happened: The Adani Group company, in a press release, said that consolidated net profit for the quarter came in at ₹381 crore, down around 13.3% from the ₹440 crore posted in the same quarter last year.

The energy company’s revenue, on the other hand, jumped up 17% to ₹3,560 crore from the ₹3,031 crore posted in the same quarter last year. The operational EBITDA increased by 3% year-on-year to ₹1,619 crore for the quarter.

See Also: Adani Total Gas Sees Profit Jump 71% To ₹168 Cr In Q4

The double-digit revenue growth was attributed to the contribution from the newly operationalized transmission assets, the commissioning of elements at North Karanpura and MP-II package lines and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra.

On the smart metering business segment, the company said that its order book has further expanded to 22.8 million smart meters, with a revenue potential of ₹27,195 crore. “The meter deployment activity is pacing up well,” the company added in the statement.

Several Adani Group companies including Adani Enterprises, Adani Power, Adani Ports and Adani Wilmar are scheduled to report earnings later this week. Adani Total Gas reported earnings earlier today. The company reported a net profit of ₹167.96 crore, up around 71% from the ₹98 crore posted in the same quarter last year.

Price Action: Adani Energy’s share price was down 0.55% to close at ₹1,797 on Tuesday.

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Posted In: EarningsEquitiesNewsMarketsAdani Energy SolutionsAdani Group