Adani Green Energy net profit falls 2% to Rs 214 crore in June quarter

Adani Green Energy Limited (AGEL) on Tuesday posted a fall of over 2 per cent in consolidated net profit at Rs 214 crore in the April-June quarter of FY23, due to higher expenses.

The consolidated net profit of the company in the year-ago period was at Rs 219 crore, according to a regulatory filing.

The company's total income rose to Rs 1,701 crore in the first quarter of the current fiscal. It was at Rs 1,079 crore in the same period last year.

The expenses stood at Rs 1,425 crore during the quarter under review compared to Rs 898 crore in the preceding fiscal.

In a separate statement, Vneet S Jaain, MD & CEO, AGEL, said: "With deployment of latest technologies and analytics driven O&M, AGEL's solar and wind portfolio performance has continued to improve. We are further proud of our teams that have enabled commissioning of India's first solar-wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan with more such projects in pipeline."

During the April-June quarter, the company said its operational solar capacity increased 58 per cent to 4,763 megawatt (MW) from 3,023 58 MW in same quarter of FY22.

Operational wind energy capacity grew by 30 per cent to 647 MW as compared to 497 MW a year ago.