Adani Green Energy Q1 Results FY2023, Cash profit at Rs. 680 crores
On 2nd August 2022, Adani Green Energy announced its quarterly results for the first quarter of FY2023.
Q1FY23 Key Highlights:
- Revenue from power supply increased by 56.6 % YoY to Rs 1,328 crore.
- EBITDA from power supply increased by 60.33 % YoY to Rs 1,265 crore with a consistent EBITDA margin of 92 %.
- The company's Cash profit increased by 47.83 % YoY to Rs 680 crore.
- The company's operational capacity increased by 65 % YoY to 5,800 MW. It also commissioned India's first solar-wind hybrid project of 390MW at Jaisalmer in Rajasthan.
- The sale of energy increased by 73 % YoY to 3,550 mn units.
- Its solar portfolio CUF improved by 150 bps YoY to 26.5 %. Wind portfolio CUF improved by 850 bps YoY to 47.0 %, the highest ever reported wind CUF by AGEL.
- Investment of $500 million was received from Abu Dhabi-based International Holding Company PJSC (IHC) as primary capital in AGEL. This helped deleverage the balance sheet and strengthen the credit rating profile, thereby helping reduce the cost of capital and support future growth.
Commenting on the results, Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd, said: "With the deployment of latest technologies and analytics-driven O&M, AGEL's solar and wind portfolio performance has continued to improve. We are further proud of our teams which have enabled the commissioning of India's first solar-wind hybrid capacity of 390 MW at Jaisalmer, with more such projects in the pipeline. We will continue to deploy the latest technologies to enable higher and cost-efficient RE power generation with flexible integration with the grid.
Simultaneously, we are striving to increase our ESG efforts with which our commitment to light up a sustainable future is only growing stronger. We will continue our journey towards strengthening the governance standards that we began with revision in the board committee charters in favor of more independent director representation and formation of new committees.”
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