AdEnergy Solutions Limited (AESL), a prominent 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 in Ahmedabad, Gujarat, India. The company has seen significant growth, particularly in the transmission and distribution of energy, as well as smart metering services.
During Q2 FY24, AESL achieved substantial financial and operational performance, solidifying its position as the largest private transmission and distribution company in India. Consolidated revenue for Q2 FY24 increased by 13 percent to reach Rs 3,421 crore, while consolidated operational EBITDA grew by 10 percent to reach Rs 1,368 crore. Profit Before Tax (PBT) rose by 48 percent to Rs 370 crore, and PAT (Profit After Tax) experienced an impressive 46 percent growth, reaching Rs 284 crore. The consolidated cash profit for the quarter stood at Rs 757 crore.
AESL’s achievements also include the commissioning of the Warora Kurnool (WKTL) and Karur (KTL) transmission lines, which contributed to a transmission system availability of 99.68 percent. These lines added 219 circuit kilometres (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, reaching 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 due to the widespread adoption of digital payment methods.
AESL has also received the Letter of Award (LOA) for four smart metering projects in Maharashtra, Andhra Pradesh, and Bihar, totaling 14.76 million smart meters with a contract value of Rs 174 billion. Additionally, the company has a robust under-construction pipeline of smart metering projects, consisting of 19.4 million smart meters across eight projects with a contract value of Rs 232 billion.
These outstanding results showcase AESL’s commitment to growth, innovation, and expansion 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 resilient and successful business model.
AESL prioritizes delivering top-notch energy solutions while adhering to high governance standards, which are essential for long-term value creation for all stakeholders.
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