Adani Green posts loss of ₹127 cr as energy sales rise 59%

Adani Green on Tuesday 127 crores for the quarter ending December 2022. it is against net loss 79 crore in the corresponding quarter of the previous financial year.

Revenue from operations for the sale of goods and related services declined by 59 percent from 917 crores 2,268 crore in the year-ago period, said Adani Green in its filing.

“We are making steady progress in our endeavor to drive mass adoption of affordable clean energy in India and are on track to achieve our long-term renewable capacity addition target. The tireless efforts of our people have resulted in the development of large scale hybrid capabilities, which are not only the first in India but also the largest in the world. These capabilities deploy cutting-edge technologies to harness the power of the sun and enable cost-effective power extraction from wind resources, while making India future-ready with improved stability and integration into the national grid,” Said Mr. Vineet S. Jain, MD & CEO, Adani Green Energy Limited

Adani Green’s energy sales grew 59% to 10,235 million units for the December quarter.

“Net debt to run-rate EBITDA is at a strong level of Rs 7,380 crore with net debt to run-rate EBITDA at 5.6 times as of December 2022,” Adani Green said in its regulatory filing.

Solar CUF and energy sales improved with the integration of a high-quality SB energy portfolio with a CUF of 26.0% in 9M FY23, consistent high plant availability, improved grid availability and improved solar irradiance.

“We are making steady progress in our endeavor to drive mass adoption of affordable clean energy in India and are on track to achieve our long-term renewable capacity addition target. The tireless efforts of our people have resulted in the development of large scale hybrid capabilities, which are not only the first in India but also the largest in the world. These capabilities deploy cutting-edge technologies to harness the power of the sun and enable cost-effective power extraction from wind resources, while making India future-ready with improved stability and integration into the national grid.” Said Mr. Vineet S. Jain, MD & CEO, Adani Green Energy Limited

The company’s stock had declined by 5 percent 843.20.

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