Adani Energy Solutions Q2 Profit Soars 172% to ₹773.4 Crore

Adani Energy Solutions, formerly Adani Transmission, reported a significant rise in consolidated net profit to ₹773.4 crore for the quarter ending September 2024, marking a 172% increase from ₹284.1 crore in the same period last year. The growth was driven by robust performance across all business sectors.

The company’s revenue from operations increased by 85% year-on-year to ₹6,813.7 crore, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 31% to ₹1,891 crore. CEO Kandarp Patel highlighted the company’s focus on timely project completions and operational efficiencies, along with encouraging trends in power demand and new transmission project wins. He also noted progress in smart meter installations.

As one of India’s largest private-sector power transmission companies, Adani Energy Solutions operates in 14 states, offering services in power transmission, distribution, smart metering, and cooling solutions.

During this quarter, the company secured three new transmission projects valued at ₹10,300 crore, adding 2,059 circuit kilometers (ckm) to its under-construction network. These projects include NES in Jamnagar, NES in Navinal (Mundra), and Khavda Phase IVA. The transmission segment showed strong growth, with revenue increasing by 132% to ₹2,303 crore, while the distribution segment saw a revenue rise of ₹534.3 crore, reaching ₹3,014 crore.

Adani Energy Solutions currently has 12 transmission projects, worth ₹27,300 crore, in the execution phase. The company aims to commission major projects such as the MP-II Package, Sangod, NKTL (North Karanpura), Khavda Phase-II, Part-A, and WRSR (Narendra-Pune) lines within the current fiscal year.

The distribution business continued to perform steadily, showing double-digit revenue growth and expansion of the regulatory asset base (RAB), as detailed in the company’s press release on October 22, 2024.

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