The company’s total income rose to Rs 1,411 crore in the September quarter from Rs 718 crore in the same period a year ago. The company clocked robust growth in sale of energy backed by capacity addition of 2,610 megawatts and improved capacity utilisation from its solar and wind power units.
“Our journey towards becoming the world’s largest renewables player and further increasing the gap as the world’s largest solar player is manifested in the very significant investments that we continue to make in this business,” Chairman Gautam Adani said.
plans to invest over $20 billion in renewable energy generation over the next decade. The group’s overall organic and inorganic investments across the entire green energy value chain will range between $50 billion and $70 billion.
Separately, group company Adani Total Gas reported a consolidated net profit of Rs 158.12 in Q2FY22, up 17% on year. The company’s revenue from operations was Rs 686.80, up 56% on year.
“There is a significant increase in our CNG stations numbers and steel pipeline laying during the quarter. ATGL also executed, during the quarter, a joint venture agreement with 50% shareholding for setting up of manufacturing facility for mechanical and smart gas meters under Atmanirbhar Bharat initiative,” said Suresh P Manglani, CEO of Adani Total Gas.
Adani Total Gas in the business of city gas distribution for supply of piped natural gas (PNG) to industrial, commercial, residential customers and compressed natural gas (CNG) to the transport sector. It has the gas distribution mandate for 38 geographical areas, of these 19 are managed by ATGL and the rest are managed by Indian Oil-Adani Gas Private, which is a 50:50 joint venture.
