AdEnergy Solutions Limited (AESL), a major player in the energy sector, has announced its consolidated financial results for the second quarter (Q2) and the first half (1H) of the fiscal year 2024. The company showcased impressive growth with a focus on energy transmission, distribution, and smart metering services.
In Q2 FY24, AESL reported significant financial and operational performance, solidifying its position as India’s largest private transmission and distribution company. Consolidated revenue for Q2 FY24 (Year-on-Year) increased by 13 percent to reach Rs 3,421 crore. Additionally, consolidated operational EBITDA grew by 10 percent to reach Rs 1,368 crore, and Profit Before Tax (PBT) rose by 48 percent to Rs 370 crore. The company also saw a remarkable 46 percent growth in Profit After Tax (PAT), reaching Rs 284 crore. The consolidated cash profit for the quarter stood at Rs 757 crore.
AESL’s commissioned Warora Kurnool (WKTL) and Karur (KTL) transmission lines achieved a robust transmission system availability of 99.68 percent. These lines added 219 circuit kilometers (ckms) to the operational network, bringing the total network to 19,862 km. Furthermore, energy demand (units sold) increased by 9.56 percent Year-on-Year to 2,446 million units. The company maintained a supply reliability of 99.9 percent and improved distribution losses from 6.0 percent to 5.81 percent. In Q2 FY24, e-payment as a percentage of total collection increased to 79.2 percent, driven by digital adoption.
AESL has also received the Letter of Award (LOA) for four smart metering projects in Maharashtra, Andhra Pradesh, and Bihar. These projects involve the installation of a total of 14.76 million smart meters and have a contract value of Rs 174 billion. Additionally, the company has a pipeline of 19.4 million smart meters under construction, consisting of eight projects with a contract value of Rs 232 billion.
These impressive results highlight AESL’s commitment to growth, innovation, and expanding its services in India’s energy sector. The company’s strong order pipeline of Rs 150 billion in the transmission business and Rs 230 billion in the smart metering business further reinforces its robust and resilient business model.
AESL remains dedicated to delivering top-notch energy solutions while adhering to high governance standards. These principles are essential for enhancing long-term value creation for all stakeholders.
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