Adani Energy Reports 24% YoY Revenue Growth in Q3 FY25 Results

Adani Energy Solutions Limited announced its financial results for the quarter and nine months ending December 31, 2024.

Financial Highlights

The company reported a 24% YoY increase in total income, reaching ₹6,000 crore in Q3 FY25. This growth was driven by contributions from newly commissioned transmission lines, including MP Package-II, Kharghar-Vikhroli, Warora-Kurnool, Khavda-Bhuj, and Mahan-Sipat, alongside higher energy sales in Mumbai and Mundra utilities.

EBITDA rose by 6% YoY to ₹1,831 crore. EPC income from transmission projects, treasury income, and steady regulated EBITDA in Adani Electricity Mumbai Limited (AEML).

Profit After Tax (PAT) surged 80% YoY to ₹625 crore, benefiting from strong EBITDA growth and the reversal of a ₹185 crore deferred tax liability following the divestment of the Dahanu plant in AEML. Adjusted PAT, excluding one-time tax items, stood at ₹440 crore, reflecting a 26% YoY increase.

Operational Highlights

Operational highlights for the quarter include the commissioning of the MP Package-II transmission line and securing two new transmission projects, Khavda Phase IV Part-D and Rajasthan Phase III Part I, adding 3,044 circuit kilometres (ckm) to the under-construction network.

The company’s under-construction transmission pipeline expanded significantly to ₹54,761 crore in Q3 FY25, up from ₹17,000 crore. Capital expenditure for the nine months climbed to ₹7,475 crore, almost doubling from ₹3,784 crore in 9M FY24.

Adani’s smart meter deployment initiative progressed steadily, achieving an installation rate of 15,000 meters per day, with plans to scale up to 20,000 meters daily in the coming quarter. Additionally, energy demand in Mumbai increased by 3% YoY, while Mundra Utility (MUL) saw a 30% YoY rise, reflecting strong power demand trends.

Commenting on the performance, the CEO of Adani Energy Solutions, Kandarp Patel, stated, “Continuing the growth momentum, AESL reported another strong quarter on both operating and financial metrics. The company stays focused on timely project commissioning as well as achieving operating efficiencies. The key highlight of this quarter is the new project wins in AESL, which not only helps in gaining market share but also strengthens AESL’s pole position as the largest private transmission player in India. The power demand trends in both utilities are encouraging and we are making progress with the installation of smart meters in all our contracts with daily average installation consistently improving.”

He further added, “We are confident that despite a large order book of Rs 54,761 crore in transmission and ~Rs 13,600 crore in smart metering, the company will continue to deliver strong operating and financial performance, thanks to unparallel project and operating excellence coupled with robust capital management program.”

On January 24, 2025, Adani Energy Solutions share price (NSE: ADANIENSOL) opened at ₹814.00, up from its previous close of ₹808.80. At 9:39 AM, the share price of Adani Energy Solutions was trading at ₹787.55, down by 2.63% on the NSE.

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