Adani Green Energy Q3 results: Net profit more than doubles to Rs 103 crore in Oct-Dec quarter
Adani Green Energy Ltd on Tuesday reported its fiscal third-quarter consolidated net profit jumped 110% on-year to Rs 103 crore, on a total income jump of 53.5% on-year to Rs 2,258 crore. Earlier today, Adani Green Energy stock was trading volatile, swinging between gains and losses ahead of the results announcement. Its shares closed 5% down at Rs 843.20.
Total expenses rose 44% to Rs 2067 crore in the December 22 quarter from Rs 1,430 in the same period previous year. The company’s revenue from power supply increased by 39% on-year to Rs 3,695 crore. The realized 3.8 million carbon credits generating revenue came in at Rs 153 crore. Cash profit increased by 41% on-year to Rs 1,827 crore. Run-rate EBITDA stood at Rs 7,380 crore with net debt to run-rate EBITDA of 5.6x as of Dec 2022. The growth in revenues, EBITDA and Cash Profit is primarily driven by greenfield commissioning of 1,915 MW.
