Adani Energy Solutions Limited Consolidated Results for Q2 FY24 and 1H FY24. Adani Energy Solutions Limited (“AESL”), part of the globally diversified Adani portfolio, the largest private transmission and distribution company in India with a growing smart metering portfolio, today announced its financial and operational performance for the quarter and half year ended September 30, 2023.
Consolidated revenue in Q2 FY24 witnessed double-digit growth on account of newly commissioned lines (WKTL, JKTL, WRSS, and LBTL), commissioning of elements at NKTL and MP-II lines, an increase in energy consumption in the Mumbai Distribution business (AEML), and new customer additions
· Consolidated EBITDA increased to Rs 1,443 Cr in the first quarter, a 6% YoY increase
· PBT came in at Rs 370 Cr, an increase of 48% YoY; In Q2 FY24, the consolidated PAT of Rs 284 Cr was 46% higher YoY
· The increase in distribution revenue is on account of higher units sold and on account of customer acquisitions
· The distribution business continued to deliver strong performance, with double-digit growth in revenue and operational EBITDA during the quarter
· PAT in the transmission business in 1H FY24 declined due to a higher tax outgo of Rs. 65 Cr on dividend income at the parent AESL level