Adani Energy Solutions Ltd (AESL) reported a 13.26 percent decline in its consolidated net profit to Rs 381.29 crore for the quarter ending March 2024 due to increased expenses. In the corresponding period of the previous financial year (2022-23), the net profit after tax was Rs 439.6 crore. For the entire financial year 2024, the company’s net profit dropped to Rs 1195.61 crore from Rs 1280.60 crore in FY 23.
During the fourth quarter, AESL’s total income surged to Rs 4,855.18 crore from Rs 3,494.84 crore a year earlier. Similarly, the income for FY 24 stood at Rs 17,218.31 crore compared to Rs 13,840.46 crore in FY 23. Expenses in the fourth quarter increased to Rs 4,358.83 crore from Rs 3,200.50 crore in the same period last year. For FY 24, expenses rose to Rs 14,978.74 crore from Rs 13,164.32 crore in the previous financial year.
AESL’s revenue growth in FY 24 was attributed to various factors, including the contribution from newly operationalized transmission assets, commissioning of elements at North Karanpura and MP-II package lines, and increased units sold due to higher energy consumption in the distribution business at Mumbai and Mundra. The company also undertook significant transmission projects and made capital expenditure investments in its distribution business to enhance its infrastructure and reduce long-term debt.
Post Your Comments