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Adani Green net profit declines 39 per cent to Rs 310 crore

Net profit stood at Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing.

Gautam Adani AFPNEW DELHI: Adani Green Energy Ltd (AGEL) on Friday reported a 38.85% fall in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses.

Net profit stood at Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the fourth quarter of FY24, the company’s total income fell to Rs 2,806 crore from Rs 2,977 crore a year ago.

Expenses increased to Rs 2,379 crore during the period under review, as against Rs 2,053 crore in the year-ago period. In a separate statement, the company said its operational capacity grew at 35% YoY to 10,934 MW with greenfield addition of 2,848 MW renewable capacity, including 2,418 MW solar and 430 MW wind projects. With this, AGEL became the first company in India to cross the 10,000 MW renewable energy capacity.

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