Adani Green Energy doubles profit in FY 2022-23


Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, has announced financial results for the fiscal year ended March 31, 2023.

The company’s total income (including revenue from the power supply, sale of goods and related services, and other income) grew 56% year-on-year to INR 8,633 crore. Net profit, or profit after tax, doubled to INR 973 crore from INR 489 crore in FY 2021-22.

Revenue from power supply increased by 54% YoY to INR 5,825 crore. EBITDA from the power supply was 57% up to INR 5,538 crore.

The sale of energy increased by 58% YoY to 14,880 million units in FY2023, primarily backed by substantial capacity addition, analytics-driven O&M enabling high plant availability, and deployment of latest renewable technologies, stated AGEL.

AGEL added a massive 2,677 MW renewable capacity to its operational fleet in FY2023, taking its operational renewable portfolio to 8,086 MW—the largest in India. The new addition included 2,140 MW solar-wind hybrid plants in Rajasthan, 325 MW wind power plant in Madhya Pradesh, and 212 MW solar power plants in Rajasthan.

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