Latest News | Adani Energy Solutions Q2 Profit Rises 46 Pc to Rs 284 Crore
Get latest articles and stories on Latest News at LatestLY. Adani Energy Solutions on Monday posted 46 per cent rise in consolidated net profit to Rs 284 crore for September quarter 2023-24, mainly on the back of higher revenues.
New Delhi, Nov 6 (PTI) Adani Energy Solutions on Monday posted 46 per cent rise in consolidated net profit to Rs 284 crore for September quarter 2023-24, mainly on the back of higher revenues.
In the year-ago period, the profit was Rs 194 crore, a company statement said.
Also Read | SSC Delhi Police Constable Admit Card 2023 Released At ssc.nic.in, Know How to Download Hall Ticket.
Total revenue rose to Rs 3,421 crore in the quarter from Rs 3,032 crore in the year-ago period.
Revenue witnessed a double-digit growth in the quarter on account of various factors including customer additions, the company said.
It said the proportion of renewable power in the total energy mix further increased to 38 per cent. The energy demand (units sold) improved by 9.5 per cent year-on-year, driven by an increase in industrial segment demand.
Distribution loss of Adani Energy Solutions Ltd (AESL) in the September quarter was at 5.81 per cent, with a higher share of e-payments at 79.2 per cent.
"Our pipeline of projects in both transmission and smart metering will further strengthen our pan-India presence and consolidate our position.
"AESL is...pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards," Anil Sardana, Managing Director of AESL, said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)