Adani Energy Solutions (AESL) showcased strong financial performance in the second quarter of the fiscal year 2023-24, reporting a significant 47 percent growth in net profit, which amounted to Rs 248 crore for the quarter ending September 2023. The company’s shares opened at Rs 781.45, marking a 1.2 percent increase, on November 7 following the announcement of its Q2 results, which were disclosed after the market closed.
Closing at Rs 771.85 on November 6, the stock experienced positive momentum, trading at Rs 775 by 9:50 am the next day, indicating a 0.4 percent rise from the previous day’s close. Adani Energy Solutions, formerly known as Adani Transmission, reported a notable 13 percent increase in revenue, reaching Rs 3,421 crore. Additionally, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 6 percent, totaling Rs 1,443 crore.
As of September 2023, the Net Debt to EBITDA ratio stood at 3.8x, reflecting the company’s strong financial position. Furthermore, AESL experienced a 9.5 percent year-on-year improvement in energy demand (measured in units sold), driven by an uptick in demand from the industrial segment. The company also achieved a distribution loss rate of 5.81 percent, with an impressive 79.2 percent of transactions conducted through electronic payments, as stated in the company’s official filing.
Despite a slight dip in the stock price, trading 1.21 percent lower at ₹762.50 at the time of reporting, Adani Energy Solutions demonstrated resilience and solid performance in the competitive energy market.
