Adani Energy Solutions Q3 Updates: System Availability At 99.7%
Adani Energy's new project wins in the current fiscal have bolstered its under-construction project pipeline to Rs 54,700 crore.
Adani Energy Solutions Ltd. has reported system availability at 99.7% in the December quarter of the current fiscal, which is nearly the same as the year-ago period.
While sharing the quarterly update for the October-December period on Monday, the company also revealed that the distribution loss of Adani Electricity Mumbai Ltd.—its power utility entity—improved to 4.66% from 5.44% in the year-ago quarter.
Adani Energy also disclosed that it added 225 circuit kilometres during the third quarter, while the total transmission network stood at 26,485 circuit kilometres.
Adani Energy highlighted that it won two new projects — Khavda Phase IV with a project cost of Rs 3,455 crore and Rajasthan Phase III Part-I, the company's largest order win to-date, with a preliminary project cost of nearly Rs 25,000 crore.
The new project wins in the current fiscal have bolstered the under-construction project pipeline to Rs 54,700 crore from around Rs 17,000 crore at the start of the year, the company said.
Coming to the smart metering segment of the business, the under-construction pipeline stands at 22.8 million smart meters across nine contracts while the untapped market opportunity is 101 million smart meters, the company added. The smart meter installation is progressing well with higher ramp-up expected in the Maharashtra circle, it further said.
The quarterly updates are a precursor to the financial results for the October-December period, which will be declared in the upcoming period.
In the preceding quarter ended September 2024, Adani Energy had reported a 68.3% year-on-year climb in consolidated revenue to Rs 6,183.7 crore. The net profit during the same period had surged 172% YoY to Rs 773.39 crore.
The company's earnings before interest, taxes, depreciation and amortisation had risen to Rs 1,786.83 crore in the July-September period, marking a rise of 19% as against the year-ago period.
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