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On Monday, the company reported revenue from operations in the third quarter increased 17% to Rs 2,311 crore, compared with Rs 1,971 crore in the corresponding quarter of last year.
The Ahmedabad-based pure-play renewable energy company posted an EBITDA of Rs 1,667 crore, an increase of 95% over the previous year period. EBITDA margins for the quarter stood at 72%.
Segment-wise, revenue from the power supply, which is the mainstay business of the company, jumped 40% YoY to Rs 1,765 crore. EBITDA for the segment also rose 40% to Rs 1,638 crore.
The robust growth in revenue and EBITDA for the power supply segment is primarily driven by capacity addition of 1,154 MW over the past year and improved capacity utilization factor (CUF).
The Ahmedabad-based pure-play renewable energy company posted an EBITDA of Rs 1,667 crore, an increase of 95% over the previous year period. EBITDA margins for the quarter stood at 72%.
Segment-wise, revenue from the power supply, which is the mainstay business of the company, jumped 40% YoY to Rs 1,765 crore. EBITDA for the segment also rose 40% to Rs 1,638 crore.The robust growth in revenue and EBITDA for the power supply segment is primarily driven by capacity addition of 1,154 MW over the past year and improved capacity utilization factor (CUF).
Operationally, the sale of energy increased by 27% to 4,596 million units in the reporting quarter, backed by a strong capacity addition and improved CUF.
Adani Green’s operational capacity grew at 16% YoY to 8,478 MW with the greenfield addition of 700 MW solar-wind hybrid, 304 MW wind, and 150 MW solar projects.
The solar portfolio CUF declined marginally to 22.1% in the October-December period. Meanwhile, the wind portfolio CUF improved to 18% with increased wind speed, and enhanced plant and grid availability.
The solar-wind hybrid portfolio CUF also increased to 34.5% from 32.9% a year ago, backed by technologically advanced solar modules, horizontal single-axis trackers, and wind turbine generators as well as consistent high plant and grid availability.
“We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localization, digitalization at scale, workforce expansion, and competency building,” said Amit Singh, CEO, Adani Green.
The company said it is working on the world’s largest renewable power plant at Khavda in Gujarat and endeavors to set new standards for mega-scale development of renewable energy projects as the world embraces the target of tripling renewable power capacity by 2030.
With the recently announced equity and debt capital raise, Adani Green is confident of a well secured growth path to the targeted 45 GW capacity by 2030.
On Monday, Adani Green shares closed 3.23% higher at Rs 1,718.55 on NSE.
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