Adani Green Energy Q3 results: Net profit increases 33 times to Rs 285 crore

MUMBAI: Adani Green Energy Limited’s year-on-year net profit increased 33 times to Rs. 285 crore in the third quarter of 2020-21, on the back of increased solar capacity and generation, and the parent group’s partnership with French energy giant Total.

AGEL’s total revenue increased to Rs 843 crore, up 63% from Rs. 523 crore from the corresponding quarter in the previous financial year. Total EBITDA also surged 74% year-on-year to Rs. 638 crore, from 367 crore.

The company continued to add to its solar portfolio in the country despite the effects of the pandemic on its projects. It added 700 MW to its operational capacity in Q3 FY21, taking its total functional capacity to 3,245 MW that is currently operating at 100% of its plant availability.

Adani Green’s total capacity now stands at 14,815 MW.

“Over the past year we have accelerated our commitment to the Renewable Energy Space based on the new data that has become available,” said Gautam Adani, chairman,

Green.

“Our partnership with Total and their experience puts us on an even stronger platform as we further expand on our sustainability ambitions,” he further added.