Adani Energy Solutions Q4 Results: Net profit zooms 87% to Rs 714 crore

Adani Energy Solutions Ltd (AESL), the electricity transmission arm of the Adani Group, on Thursday reported an 87 per cent rise in March quarter profit to Rs 714 crore, aided by a one-time exceptional income. It had posted a net profit of Rs 381.29 crore in the January-March period of preceding 2023-24 financial year, the company said in a regulatory filing.

During the quarter, the company’s total income surged to Rs 6,596.39 crore, up 35.9 per cent from Rs 4,855.18 crore in the same period a year ago.

“Q4 (fourth quarter) adjusted PAT of Rs 566 crore, excluding one-time regulatory income of Rs 148 crore, up by 48 per cent,” AESL said.

Expenses stood at Rs 5,411.60 crore against Rs 4,358.83 crore in the fourth quarter last fiscal.

In a statement, the company’s CEO Kandarp Patel said, “AESL delivered strong operating and financial performance in FY25 backed by its distinguished ability to execute the complex projects, compete and outperform peers in the project bids and remain financially prudent at the same time. As we embark on the next fiscal year, the company remains focused on incremental project commissioning, significantly increase the meter installation as well as achieving operating efficiencies in all lines of businesses.”

He said the integrated business model and underlying power demand trends in company’s areas of operation are encouraging and complement capital allocation policy. The CEO exuded confidence that the growth opportunity visible across all business segments will help company further consolidate its market position. Annually, the FY25 PAT (profit after tax) of Rs 2,427 crore increased by 103 per cent due to strong EBITDA growth and aided by a reversal of Rs 469 crore in net deferred tax liability, primarily from divesting AEML’s Dahanu plant and a regulatory income of Rs 148 crore in transmission and distribution businesses. During FY25, the total income at Rs 24,447 crore witnessed a robust growth of 42 per cent, while the operational revenue of Rs 17,057 crore grew by 20 per cent YoY on account of the contribution of the newly operationalised transmission assets, contribution from acquired Mahan Sipat line and an increase in energy sales led by positive demand growth in distribution business at Mumbai and Mundra and growing contribution from smart metering business.

Adani Electricity Mumbai Limited (AEML), the Mumbai distribution business, witnessed an increase in energy consumption by 6 per cent to 10,558 million units. Its distribution losses at 4.77 per cent remained low. The energy consumed at the Mundra utility increased by 44 per cent YoY to 948 million units.

The company earned a profit of Rs 406 crore from its transmission and Rs 274 crore from distribution business in Q4.

In FY25 profit, contribution from transmission business was Rs 1,380 crore and Rs 979 from distribution.

With seven new projects, the total order book across 15 projects has reached Rs 59,936 crore as of FY25. The company also added 695 circuit kilometers of transmission lines during the year and with total transmission network at 26,696 circuit kilometers.

The distribution business continued to show a steady performance with double-digit revenue growth and consistent expansion of EBITDA and RAB (regulatory asset base).

AEML’s RAB after Dahanu plant divestment stood at Rs 9,549 crore (equity of Rs 5,014 crore and debt of Rs 4,535 crore) as of FY25, recording a growth of 13 per cent YoY.

The company installed 31.3 lakh smart meters as of FY25 and further plans to install at least 60 to 70 lakh new meters in FY26 to reach the total number of meter installment at 1 crore by the end of the fiscal.

The under-implementation pipeline stands at 22.8 million smart meters, comprising nine projects with a revenue potential of over Rs 27,195 crore

Part of the Adani portfolio, AESL is a multidimensional organisation with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.

AESL is the country’s largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 26,696 ckm and 90,236 MVA transformation capacity.