Adani Energy Solutions announces strong Q2 FY24 performance with 46% PAT growth

Adani Energy Solutions Limited (AESL) has released its consolidated results for the second quarter of fiscal year 2024, showcasing a remarkable 46% increase in profit after tax (PAT) at Rs 284 crore. The operational earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw an upward trajectory, growing by 10% year-over-year (YoY) to Rs 1,368 crore. In terms of revenue, the company experienced a 13% YoY increase in Q2 FY24, signaling strong performance amidst a challenging macroeconomic climate.

AESL’s Financial and Operational Milestones

The financial highlights of the quarter included a consolidated revenue boost by 13% to Rs 3,421 crore and an increase in operational EBITDA by 10% to Rs 1,368 crore. Pre-tax profit (PBT) surged by 48% from the previous year to Rs 370 crore, with the consolidated cash profit for the quarter marginally higher at Rs 757 crore. AESL maintains a net debt to EBITDA ratio of 3.8x as of September 2023.

Transmission and Distribution Achievements

On the operational front, AESL fully commissioned key transmission lines, contributing to a network totaling 19,862 circuit kilometers. The Adani subsidiary also reported a substantial order pipeline, boasting Rs. 150 billion in the transmission segment and Rs. 230 billion in the smart metering business.

Statements from Leadership

Anil Sardana, Managing Director of AESL, highlighted the company’s resilient business model and execution capabilities, stating, “AESL remains steadfast in its performance and continues to expand into multiple energy solution areas.” Sardana also emphasized the significance of AESL’s project pipeline, ensuring the consolidation of its pan-India presence.