Adani Group companies continue to perform well in Q1, with EBITDA jumping 42% to a record high

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Adani Group companies continue to perform well in Q1, with EBITDA jumping 42% to a record high

Adani Group Chairman Gautam Adani (File Photo)

Adani Group companies have performed brilliantly in the June quarter. Adani Group has informed that in the first quarter of FY24, the group’s EBITDA grew by 42% year-on-year to reach a record level of Rs 23,532 crore. It may be noted that this first quarter EBITDA for the entire FY19 was Rs. 24,780 crore is almost equal to EBITDA. BQ Prime As per the report – the Infra and Utility Platforms segment, which generated good cash flow for the Adani Group, contributed 86% to the group’s total EBITDA. The group got an EBITDA of 20,233 crores from this segment. Adani Group’s liquidity position has also been strengthened due to the huge profit this quarter. As of the end of June 2023, the group’s cash balance stood at Rs 42,115 crore, up 4.2% from the previous quarter. Adani Green’s Renewable Power business, Adani Enterprises’ Infra business and Adani Cement’s Cement business contributed significantly to this stellar performance at the portfolio level.

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How has performance been from which businesses?

Adani Enterprises

  • Passenger growth in airport business up 27% to 21.3 million (YoY)
  • Additional construction of 79.8 lane kilometers was done under road business
  • The volume of solar modules increased by 87% to 614 MW
  • Data Center Business: A 17 MW facility in Chennai is fully operational
  • Production volume of mining services was 6.3 MMT

Adani Green Energy

  • Operational capacity increased by 43% to 8,316 MW. It consists of 1,750 MW solar-wind hybrid, 212 MW solar and 554 MW wind power plants.
  • Solar portfolio capacity utilization up 40 basis points to 26.9% (YoY)
  • Capacity utilization of hybrid portfolio stood at 47.2%

Adani Energy Solutions

  • 550 circuit km increase in transmission network. The total transmission network reached 19,778 circuit kilometers.
  • Units sold increased by 7.61% to 2,754 million units (YoY).
  • Received Letter of Agreement (LOA) for 3 smart metering projects to serve 90 lakh customers through 27 lakh smart meters in Andhra Pradesh.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani group company.)

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