Adani Green Energy Ltd.’s revenue from operations rose on higher power sales during the first quarter of FY23.
Revenue from power supply was up 57% to Rs 1,328 crore on higher capacity addition and improvement in wind capacity utilisation factor backed by technologically advanced wind turbine generators, the company said in a statement.
Adani Green Energy Q1 FY23 Highlights (YoY)
Revenue from operations of the renewable energy arm of Adani Group was up 67% year-on-year to Rs 1,635 crore.
Operating profit or earnings before interest, taxes, depreciation and amortisation fell 40% YoY to Rs 1,052 crore.
Ebitda margin stood at 64.3% compared with 77.2% a year ago.
Net profit for Q1 FY23 was down 2.28% to Rs 214 crore.
“With deployment of the latest technologies and analytics driven operations and maintenance, the solar and wind portfolio performance has continued to improve,” Vneet S Jaain, managing director and chief executive officer at Adani Green Energy, said.
The company will continue to deploy the latest technologies “to enable higher and cost-efficient renewable energy power generation with flexible integration with the grid”, he said. “Our teams have enabled commissioning of India’s first solar-wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan, with more such projects in the pipeline.”