Adani Green Energy's net profit jumped six times in the September quarterAdani Green Energy announced its July-September quarter results, reporting a net earnings of Rs 100 crore on a consolidated basis, compared to Rs 17 crore in the corresponding duration in 2015, marking a growth of 488 percent - nearly 6 times year-on-year.
The renewable resource significant's earnings from power supply in the 2nd quarter of the current fiscal stood at Rs 834 crore, compared to Rs 530 crore in the matching duration last year, registering a development of 58 percent year-on-year, according to a regulatory filing by the firm to the stock exchanges.The business's overall income stood at Rs 1,411 crore in the September quarter, compared to Rs 718 crore in the matching period last year.
The sale of energy (solar and wind) increased 61 percent to Rs 1,901 crore in the September quarter, compared to Rs 1,182 crore in the year-ago period.
It is gratifying to see that the concentrate on climate modification has actually continued to accelerate at a speed that has actually taken everybody by surprise, stated Mr.
Gautam Adani, Chairman of the Adani Group.The solar portfolio capacity utilisation factor (CUF) stood at 21.7 per cent in the September quarter, compared to 20.7 per cent in the year-ago duration.
The wind portfolio CUF stood at 42.9 percent in the quarter, compared to 30.3 per cent in the year-ago period.The solar CUF enhancement was driven by enhancement in grid accessibility and high plant accessibility.
The wind CUF enhancement was backed by technologically advanced and newly included wind turbine generators, enhanced plant availability of 96 per cent, and improved wind speed.
Our journey towards becoming the world's biggest renewables gamer and more increasing the gap as the world's largest solar gamer appears in the very significant financial investments that we continue to make in this organization, stated Mr Adani.On Thursday, October 28, shares of Adani Green Energy settled 4.84 percent lower at Rs 1,147.15 each on the BSE