Adani Energy Solutions Limited (AESL) has issued its consolidated results for Q1 FY24, revealing a significant 19% year-on-year revenue rise. The company also recorded a significant increase in profit before tax (PBT) of Rs 343 crore, reflecting a 70% year-on-year increase. Furthermore, the quarterly net profit after tax (PAT) increased by 8%. AESL’s name was changed from Adani Transmission Ltd. to better reflect its extensive presence in different parts of the energy sector, effective July 27, 2023.
In terms of financial performance, the company increased its consolidated revenue by Rs 3,622 crore year over year. The operational EBITDA increased by 3 percent to Ea 1,254 crore, while the EBITDA increased by 4 percent to Rs 1,378 crore. Profit before tax (PBT) increased by 70% year on year to Rs 343 crore, while net profit after tax (PAT) increased by 8% to Rs 182 crore.
However, the consolidated cash profit was 11% lower year on year at Rs 649 crore, owing to a one-time tax impact of Rs 65 crore on dividends from its subsidiary.
In terms of operational highlights, AESL’s transmission business performed admirably, with transmission business availability at 99.77%. The company increased the operating network by 550 ckms, bringing the total network to 19,778 ckms.
