Adani Energy Solutions Q3 Results: Net profit rises 73% to ₹562 crore, revenue up 28% YoY
- Adani Energy Solutions Q3 Results: The Adani Group company's revenue from operations in the third quarter of the current fiscal rose 28 per cent to ₹5,830.3 crore
Adani Energy Solutions Q3 Results: Adani Energy Solutions Ltd (AESL) announced its October-December quarter results for fiscal 2024-25 (Q3FY25) on Thursday, January 23, 2025, reporting a rise of 73 per cent in terms of consolidated net profit to ₹562 crore, led by lower fuel costs and tax reversal, compared to ₹325 crore in the corresponding period last year.
The Adani Group company's revenue from operations in the third quarter of the current fiscal rose 28 per cent to ₹5,830.3 crore, compared to ₹4,562.7 crore in the year-ago period. A tax reversal of ₹66 crore and zero fuel costs, compared to a ₹281 crore expense in the base quarter, contributed to the bottom line.
Adani Energy Solutions Q3 Results: Key Metrics
"Continuing the growth momentum, AESL reported another strong quarter on operating and financial metrics. The company stays focused on timely project commissioning and achieving operating efficiencies," said Kandarp Patel, CEO of Adani Energy Solutions. Total income rose to ₹6,000.39 crore in the quarter from ₹4,824.42 crore in the same period a year ago.
"The key highlight of this quarter is the new project wins in AESL, which not only helps gain market share but also strengthens AESL's pole position as the largest private transmission player in India. The power demand trends in both utilities are encouraging, and we are making progress with installing smart meters in all our contracts with daily average installation consistently improving," he added.
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He further added, "We are confident that despite a large order book of ₹54,761 crore in transmission and ₹13,600 crore in smart metering, the company will continue to deliver strong operating and financial performance, thanks to unparallel project and operating excellence coupled with robust capital management program," said Patel.
AESL's Mumbai distribution business recorded a three per cent increase in energy consumption. Its distribution losses of 4.66 per cent remain low, and the utility added new consumers, reaching 3.17 million, due to a reliable and affordable power supply.
During the quarter, the company won two new transmission projects: Khavda Phase IV Part-D with a project cost of ₹3,455 crore and Rajasthan Phase III Part-I (Bhadla – Fatehpur HVDC) with a preliminary project cost of ₹25,000 crore, adding 3,044 ckm to under construction network. This marked the largest project in the company's operating history.
With five new project wins this year, the under-construction project pipeline has zoomed to ₹54,761 crore in Q3FY25 from ₹17,000 crore at the start of the year. The company added 225 circuit kilometres (CKM) during the quarter, bringing its total transmission network to 25,778 CKM. The capex as of 9MFY25 has increased to ₹7,475 crore.
The smart meter deployment is progressing with the current average run rate of 15,000 meters per day and is expected to reach an average of 20,000 meters per day by the next quarter. The company was the lowest bidder in the cancelled smart metering tender of 8.2 million meters in Tamil Nadu.
The under-implementation pipeline stands at 22.8 million smart metres, comprising nine projects with a revenue potential of over ₹27,195 crore. The operational EBITDA of ₹1,579 crore in the December quarter ended nine per cent higher. The transmission business continues to maintain the industry's leading operating EBITDA margin of 92 per cent.
Part of the Adani portfolio, AESL is a multidimensional organisation with a presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.
AESL is the country’s largest private transmission company, with a presence across 16 states of India, a cumulative transmission network of 25,778 km, and an 84,186 MVA transformation capacity. In its distribution business, AESL serves over 12 million consumers in Mumbai and the industrial hub of Mundra SEZ.
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