New Delhi, 29 Jan

Adani Green Energy on Monday posted an over 148 per cent jump in consolidated net profit to Rs 256 crore in the three months ended December 2023, mainly on the back of higher revenues. The consolidated net profit of the company was at Rs 103 crore in the year-ago period, according to a regulatory filing.

Total income rose to Rs 2,675 crore in the third quarter of the current fiscal from Rs 2,256 crore in the same period a year ago.

The company's operational capacity grew 16 per cent Y-o-Y (Year-on-Year) to 8,478 MW with greenfield addition of 700 MW solar-wind hybrid, 304 MW wind and 150 MW solar projects.

The sale of energy increased 59 per cent Y-o-Y to 16,293 million units during the April-December 2023 period, primarily backed by strong capacity addition and improved CUF (Capacity Utilisation Factor).

Adani Green Energy Ltd (AGEL) on Monday said it has completed the funding for redemption of over Rs 62,000 crore bonds, eight months ahead of their maturity.

The Adani Group company had raised over Rs 62,000 crore through the issuance of NCDs (non-convertible debentures) which will mature in September this year.

In the nine months ended December 2023, the solar portfolio CUF remained stable at 24 per cent, wind portfolio CUF improved to 32.2 per cent and the CUF of solar-wind hybrid portfolio improved to 41.5 per cent.

On 8 January, AGEL had announced a plan to ensure early redemption of its Rs 62,000 crore bonds.

In a statement on Monday, AGEL said it has 'completed the funding for the USD 750 million 4.375 notes due September 9, 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of Rs 9,350 crore (USD 1,125 million) to the promoters.'

Sharing a break-up, AGEL said Rs 14,000 crore has been put through the reserve accounts and internal accruals, while about Rs 25,000 crore has recently been invested by TotalEnergies through a joint venture. The remaining Rs 23,000 crore million has been secured through promoter preferential allotment.