Adani Green Energy Q4: EBITDA Climbs 30 Per Cent YoY In FY24, Capacity Rises 35 Per Cent

The renewable energy company reported a revenue of Rs 7,735 crore for FY24, up by 33 per cent from the revenue of Rs 5,809 crore a year earlier

By : ABP News Bureau | Updated at : 06 May 2024 01:02 PM (IST)

Adani Green Energy Q4: EBITDA Climbs 30 Per Cent YoY In FY24, Capacity Rises 35 Per Cent Adani Green Energy Q4: EBITDA Climbs 30 Per Cent YoY In FY24, Capacity Rises 35 Per Cent

Solar energy dominated the capacity growth with 7,393 MW recorded in Q4FY24, in comparison to a capacity of 4,975 MW in the last three months of the previous fiscal year.

Source : Adani Green Energy

Adani Green Energy clocked a 30 per cent jump in its EBITDA at Rs 7,222 crore in its quarterly earnings for the 2023-24 fiscal year released on Friday. The firm’s EBITDA in the 2022-23 fiscal year stood at Rs 5,538 crore.

However, on a quarterly basis, the energy firm reported a EBITDA of Rs 1,811 crore in the January-March quarter in FY24, down by 8 per cent from Rs 1,968 crore logged in the same quarter in the previous fiscal year. EBITDA is often used by companies as an alternative to net income to better understand their finances.

The renewable energy company reported a revenue of Rs 7,735 crore for FY24, up by 33 per cent from the revenue of Rs 5,809 crore a year earlier. In Q4FY24, the firm’s revenue stood at Rs 1,941 crore, against Rs 2,119 crore in the corresponding quarter in FY23.

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Elaborating on the company’s performance, Amit Singh, Chief Executive Officer, Adani Green Energy Ltd, noted, “Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum. Aligned with the country’s need for accelerated integration of renewables into the grid, we are now focused on delivering energy storage in addition to solar, wind, and hybrid projects. Our goal is to commission at least 5 GW of hydro pumped storage projects by 2030. We remain steadfast in our commitment to deliver affordable clean energy at an unprecedented scale and velocity and have set a higher target of 50 GW by 2030, which will contribute towards India’s non-fossil fuel capacity target of 500 GW.”

The energy firm saw a 35 per cent increase in operational capacity at 10,934 MW in the quarter under review, against a capacity of 8,086 MW in Q4FY23. Solar energy dominated the capacity growth with 7,393 MW recorded in Q4FY24, in comparison to a capacity of 4,975 MW in the last three months of the previous fiscal year.