Adani Energy Solutions Stock Climbs 4% On 47% Revenue Growth In Q1
The firm reports consolidated revenue at Rs 5,379 crore, while the operational EBITDA grows 29.7 per cent on a yearly basis to Rs 1,628 crore
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The stocks of Adani Energy Solutions climbed over 4 per cent in the Friday trading session after the firm reported a 47 per cent yearly rise in its consolidated revenue from operations in the April-June quarter.
Adani Energy Solutions stock traded with 4.32 per cent gain at Rs 1,095 in the afternoon session on the National Stock Exchange (NSE).
The firm reported consolidated revenue at Rs 5,379 crore, while the operational EBITDA grew 29.7 per cent on a yearly basis to Rs 1,628 crore. The company's adjusted profit after tax (PAT) of Rs 315 crore increased by 73 per cent on a yearly basis.
As per a company statement, the revenue growth of 47 per cent was on account of the contribution from the newly operationalised transmission assets, line addition at under-construction projects and an increase in the units sold because of higher energy consumption in the distribution business at Mumbai and Mundra and contribution from smart metering business.
During the quarter, the company completed acquisition of Mahan Sipat transmission assets thereby adding 673 (circuit kilometre) ckm to its operational network.
Within the transmission segment, the company added multiple projects to its pipeline in the recent quarters expanding the order book to Rs 17,000 crore for transmission projects.
The company remains optimistic about the strong near-term transmission pipeline upwards of Rs 90,000 crores in Tariff Based Competitive Bidding (TBCB) tendering.
However, in terms of stock’s performance Adani Energy Solutions delivered only 4.5 per cent return in the year 2024 so far against the sectoral index Nifty Energy return of 28.5 per cent year-to-date (YTD).
