Jobaaj Stories
Adani Green Energy Limited (AGEL) published its Q1 wherein the company reported substantial growth in revenues but a minor contraction in profits.
Profit for the quarter ending in June 2022 came in at Rs 214 crores, down 2.3% YoY as profit for the corresponding quarter last year came in at Rs 219 crores.
Revenues of the company reported impressive growth as total income reached Rs 1,701 crores, up 57.65% YoY. Revenues from the Power supply were up 56.6% to reach Rs 1,328 crores while revenues from Sale of Goods & Related services grew 116% YoY to Rs 263 crores. Power Supply had an EBITDA margin of 92% during the quarter.
Trade deficit increases to $31 billion as exports contract, read now.
The contraction in profits was on account of higher expenses as total expenses surged 59% YoY. Cost of materials surged 127% to Rs 263 crores. Moreover, the company had large foreign exchange losses during the year which contributed significantly to the higher expenses.
CUF of the solar energy portfolio improved marginally to 26.5% while the same for the wind energy portfolio improved significantly to 47% backed by technologically advanced WTGs, improved plant availability, and improved wind speed. The solar-wind hybrid reported a CUF of 43.4%.
"With deployment of latest technologies and analytics driven O&M, AGEL's solar and wind portfolio performance has continued to improve. We are further proud of our teams that have enabled commissioning of India's first solar-wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan with more such projects in pipeline." aMD & CEO of AGEL, Vineet S Jain said.
We at jobaaj reported about AGEL's entry into the top 10 companies of India by market cap and the stock's stellar performance. The stock closed at Rs 2190.95 per share on Thursday, down 0.6%.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
