Adani Energy Solutions Q2 Results | Net profit zooms to ₹675 crore, revenue jumps 68% to ₹6,184 crore
In the corresponding quarter of the previous fiscal, Adani Energy Solutions posted a net profit of ₹276 crore. The company said in a regulatory filing that its consolidated revenue from operations surged 68% to ₹6,184 crore as against ₹3,674 crore in the corresponding period of the preceding fiscal.
At the operating level, consolidated EBITDA increased 19% to ₹1,787 crore in the second quarter of this fiscal, up from ₹1,505 crore in the corresponding period in the previous fiscal.
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The EBITDA margin stood at 28.9% in the reporting quarter compared to 41% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Adani Energy Solutions reported a robust 69% growth in total income for Q2, driven by contributions from the recently commissioned Kharghar-Vikhroli, Warora-Kurnool, and Khavda-Bhuj transmission lines, the acquired Mahan-Sipat line, higher energy sales in Mumbai and Mundra utilities, and smart metering initiatives.
The company secured three new transmission projects in Jamnagar, Navinal (Mundra), and Khavda Phase IVA, adding 2,059 circuit kilometres to its under-construction network. With these wins, the project pipeline under construction rose from ₹17,000 crore in Q1FY25 to ₹27,300 crore in Q2FY25.
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Energy demand showed positive trends, with units sold in Adani Electricity Mumbai increasing 7% year-on-year to 2,609 million units and a 50% rise in Mundra Utility to 234 million units. The company maintains a healthy leverage position with a net debt-to-EBITDA ratio of 3.1x in 1HFY25.
Capital expenditure for 1HFY25 was ₹4,400 crore, compared to ₹2,622 crore in 1HFY24. Additionally, Adani Energy Solutions secured approval from CERC to transfer the inter-state energy trading license from Adani Enterprises, allowing the company to offer customised power solutions to commercial and industrial customers.
In the transmission business, Adani Energy Solutions reported an average system availability of over 99.7%, leading to an incentive income of ₹35 crore. The company won three new transmission projects—NES in Jamnagar, Navinal (Mundra), and Khavda Phase IVA—with a combined project cost of ₹10,300 crore, adding 2,059 circuit kilometers (ckm) to its under-construction network.
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Additionally, 140 ckm were added during the quarter, bringing the total transmission network to 23,269 ckm. In the distribution business, Adani Electricity Mumbai Limited (AEML) sold 2,609 million units in Q2, up from 2,446 million units year-on-year, driven by increased energy demand.
The distribution loss at AEML improved to 4.85%, while supply reliability remained above 99.9%. Meanwhile, Mundra Utility (MUL) sold 234 million units in Q2 of FY25, compared to 156 million units in the same period last year.
Shares of Adani Energy Solutions Ltd ended at ₹1,012.55, down by ₹4.90, or 0.48% on the BSE.
