Adani Energy Solutions Q2 Results: Profit Increases Three-Fold To Rs 773 Crore

Total income also grew significantly, rising to Rs 6,359.80 crore during this period, compared to Rs 3,766.46 crore in the corresponding quarter a year ago

Adani Energy Solutions Ltd reported a nearly threefold increase in its consolidated net profit, reaching Rs 773.39 crore for the September quarter, primarily driven by higher revenues. The company’s consolidated net profit was Rs 284.09 crore in the same quarter last year, as stated in a regulatory filing on Tuesday.

Total income also grew significantly, rising to Rs 6,359.80 crore during this period, compared to Rs 3,766.46 crore in the corresponding quarter a year ago.

"The company remains focused on timely project commissioning as well as achieving operating efficiencies. The power demand trends in both utilities and new transmission project wins are very encouraging, and we are making progress with the installation of smart meters in all our contracts," Kandarp Patel, CEO of Adani Energy Solutions (AESL), said in a statement.

According to the statement, the company’s total income experienced impressive growth of 69 per cent, driven by the newly operational transmission assets (KVTL, KBTL, WKTL lines), the partial completion of lines in under-construction projects (MP-II), and increased energy sales due to strong demand in the distribution business in Mumbai and Mundra, as well as contributions from its smart metering business.

Operationally, the company had a strong quarter, achieving an average system availability of over 99.7 per cent. This robust line availability resulted in an incentive income of Rs 35 crore in Q2FY25. During the quarter, the company secured three new transmission projects, with a combined project cost of approximately Rs 10,300 crore, including NES in Jamnagar, Gujarat, NES in Navinal (Mundra), and Khavda Phase IVA, adding 2,059 circuit kilometres (ckm) to its under-construction network.

The company expanded its transmission network by 140 ckm during the September quarter, bringing the total to 23,269 ckm. It sold 2,609 million units in AEML, up from 2,446 million units year-on-year, due to rising energy demand. Notably, distribution losses at AEML have consistently improved, now standing at 4.85 per cent in Q2FY25, while maintaining supply reliability of over 99.9 per cent.

In the Mundra utility, units sold increased to 234 million units in Q2FY25, compared to 156 million units, fueled by strong industrial demand. The company also reported a project pipeline of 12 projects valued at approximately Rs 27,300 crore, currently in the execution stage.

The company anticipates fully commissioning the MP-II package, Sangod, NKTL (North Karanpura), Khavda Phase-II Part-A, and the WRSR (Narendra-Pune) lines within the current fiscal year. The distribution business continues to demonstrate steady performance, with double-digit revenue growth and an expanding Regulatory Asset Base (RAB). Additionally, the new business segment is developing well and is expected to make a significant contribution to the company’s overall growth and profitability.