Adani Green logs 9-fold jump in Q1 net profit

Adani Green Energy Ltd (AGEL) on Wednesday reported a nearly 9-fold growth in its consolidated net profit for the April-June period, at Rs 219 crore.
During the same period of last fiscal, the company had reported a net profit of Rs 20 crore.

The company posted a total income of Rs 1,079 crore for the first quarter of FY22, compared to Rs 878 crore, Adani Green said in a regulatory filing.

Adani Group Chairman Gautam Adani said: "AGEL's growth continues to accelerate.

"In just two years, AGEL has marched to the very forefront of the world's renewable energy brigade, accelerating the transition to green energy faster than any other company in the world.

"The acquisition of SB Energy's high quality renewable energy portfolio has further consolidated our position as the world's largest solar player, thereby keeping us on track to become the world largest renewables player by 2030. Renewable energy is at a massive inflexion point in its young journey and we are well positioned," he added.

AGEL MD & CEO Vneet S. Jaain said that with the data analytics driven O&M, deployment of latest technologies and continued capacity additions despite the pandemic, AGEL has been able to consistently report strong operational performance for both solar and wind portfolios.-IANS