Adani Green Energy reports Q3FY23 cash profit at Rs 546 cr
New Delhi/UNI: Adani Green Energy Ltd (AGEL) on Tuesday reported a cash profit of Rs 546 crore for the quarter ended December 31, 2022.
The company had registered a cash profit of Rs 432 crore for the same period last financial year.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) from Power Supply increased by 44 percent YoY to Rs 3,570 crore with high EBITDA margin of 91.7 percent.
The robust growth in revenues, EBITDA and cash profit was primarily driven by greenfield commissioning of 1,915 MW, a statement from the company said.
“The continued strong performance demonstrates the resilience of AGEL’s business model supported by a robust capital management program with leverage well aligned with the business model. We appreciate that, in the last few days, this has further been reaffirmed by the rating agencies, equity and credit research analysts and various banks, financial institutions, long term investors and other key stakeholders have also reassured their confidence in AGEL’s strong business model,” Vneet S Jaain, MD & CEO, Adani Green Energy Ltd, said.
“I am also proud of the continued progress towards our ESG commitment and we are determined to continue our journey forward in this direction," he said.