Adani Green Energy Q3FY24 Results: Net profit 148.5% YoY at ₹256 crores, sales up 40%
Financial results for the quarter and nine months ended December 31, 2023, and were published by Adani Green Energy, the renewable energy arm of the Gautam Adani’s Adani Group. Compared to the previous year's corresponding quarter, the company's consolidated net profit increased by 148.54% to ₹256 crore in Q3FY23. The consolidated net profit fell 31% when looking at it sequentially. In the third quarter, the company's consolidated revenue from operations increased by 40.30% year-on-year, reaching 1,765 crores from 1,258 crores in the previous year's quarter. A strong capacity increase of 1,154 MW over the previous year and an enhanced capacity utilisation factor (CUF) contributed to the company's energy sales, which rose by an impressive 59% year-on-year to 16,293 million units, as reported in the financial report. Projects included 304 MW of wind, 150 MW of solar, and 700 MW of solar-wind hybrid, increased the company's operating capacity to 8,4