Page 32 - The Indian EYE 111023

BUSINESS EYE NOVEMBER 10, 2023 | The Indian Eye 32

Adani Group’s energy

and gas sectors show massive

hike in revenue & profit

The company has made significant progress in its strong incubation pipeline during
the first half of the fiscal year 2023-24

OUR BUREAU
Mumbai/New Delhi
dani Group flagship firm Adani Enterprises
on Thursday reported that its earnings be-
Afore interest, taxes, depreciation, and amor-
tization (EBIDTA) increased by 43 per cent to Rs.
5,874 crores during the April-September quarter
of 2023-24. The Adani Group company’s cash ac-
cruals increased by 48 per cent to Rs 2,733 crore
during the first half of the current fiscal.
Adani Enterprises, part of the Adani Group,
announced its results for the quarter and half-year
ended September 30, 2023. The company has made
significant progress in its strong incubation pipe-
line during the first half of the fiscal year 2023-24.
The company’s latest results showcased the
emergence of key incubating businesses, including
green hydrogen integrated manufacturing ecosys-
tems, airports and roads, which collectively con-
tributed 48 per cent of the overall EBITDA. Adani Power’s continuing revenue surged to Rs. 12,155 Crore, reflecting a substantial 61 per cent increase year-on-year (ANI Photo)
“We are fundamentally reshaping the essence
of incubation scale and velocity,” said Gautam ny’s position as India’s most reliable and competi- Rs 1,178 crore, and rose marginally, 1 per cent, to
Adani, Chairman of the Adani Group, as per a tive power generator. Rs 2,313 crore in the two quarters combined.
company media release. Khyalia said, “Adani Power has now cemented It said CNG stations increased to 483, PNG
“Adani Enterprises covers sectors that span its position as India’s most reliable and compet- consumers increased to 7.64 lakh, CNG volume
energy, utility, transport, D2C, and primary indus- itive power generator with stable cash flows and was up 20 per cent in Q2 and 19 per cent in H1
tries. With many ventures now market-ready and high creditworthiness flowing from a secure reve- year on year.
thriving, our H1 FY23-24 results have been boost- nue stream and a strategically located and reliable “ATGL has shown continuance of all-round
ed by the core infra incubating businesses, thereby fleet with lowest emissions per unit of generation. strong performance in our core CGD business.
being a strong testament to our incubating ven- The Company’s proven capabilities are being sup- The volumes have increased by 9 per cent during
tures,” Gautam Adani added. plemented with the deployment of digitalization, the first half year of this financial year resulting
Also, Adani Power Ltd. reported strong finan- analytics, and cutting-edge technologies to pro- in an increase of EBITDA by 17 per cent to Rs
cial results for the second quarter ending Septem- vide stable, reliable, and affordable power supply 545 crore. The company is continuing its focus
ber 30. Adani Power’s continuing revenue surged in a sustainable manner. As opportunities in the on building PNG and CNG infrastructure across
to Rs. 12,155 Crore, reflecting a substantial 61 per Indian power market grow, we stand geared to all its geographical areas to extend easy access to
cent increase year-on-year. Adani Power achieved enhance our contribution as the leading private PNG and CNG gives a boost to the adaptation of
a consolidated power sale volume of 18.1 Billion power producer and to meet the nation’s growing natural gas as a fuel of their choice by the large
Units (BU) in Q2 FY24, a remarkable 65 per cent energy needs.” numbers of PNG and CNG consumers.” said
increase from the 11 BU recorded in Q2 FY23. Earlier, Adani Total Gas on Tuesday reported Suresh P Manglani, ED & CEO of Adani Total Gas.
This growth was driven by improved power de- that its profit after tax during the second quarter “ATGL has also made significant progress in
mand and higher operating capacity. of the 2023-24 fiscal year rose 20 per cent to Rs e-mobility and biomass businesses. In e-mobility
The impressive financial performance can be 168 crore. In the same quarter last fiscal, the net business, charging points have now increased to
attributed to improved sales volumes, lower fuel profit was Rs 139 crore in standalone profit after 221 charging points across 64 locations and we
costs, and the inclusion of the Godda power plant, tax. Similarly, in the first two quarters combined soon intend to reach to 3000 charging points. In
which made a significant contribution. Adani Power (April-September), the net profits increased 14 per the biomass business, we have won 500 Tons Per
recognized deferred tax assets, contributing to the cent to Rs 315 crore against Rs 277 crore. Day (TPD) Municipal Solid Waste (MSW) based
substantial growth in consolidated Profit After Tax. Coming to the revenue from operations of biogas project in Ahmedabad in this quarter and
Commenting on the results, S B Khyalia, CEO the Adani Group company, they however declined we continue to explore many such opportunities
of Adani Power Limited, emphasized the compa- marginally, 1 per cent during the second quarter to across India.

www.TheIndianEYE.com