Adani Energy Solutions Ltd. reported a sharp rise in first-quarter earnings, with consolidated net profit more than doubling from a year earlier, while its revenue increased across its transmission and distribution businesses.
The company posted a consolidated net profit of Rs 1,149 crore for the quarter, compared with Rs 513 crore in the corresponding period last year, according to its notification to the exchanges. Revenue grew 42.4% year-on-year to Rs 9,711 crore from Rs 6,819 crore.
The results indicate that higher revenue, led by the transmission business, supported earnings growth during the quarter. The orperating income or earnings before interest, tax, depreciation and amortisation rose 30% to Rs 3,008 crore from Rs 2,314 crore a year earlier.
The transmission business recorded revenue of Rs 3,335 crore, up 52% from a year earlier. Transmission EBIT increased 43% year-on-year to Rs 1,328 crore. The distribution business reported revenue of Rs 3,520 crore, up 5% from the year-ago period. Distribution EBIT rose 18% to Rs 357 crore.
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